​BP: We want to estimate prospects for III phase of 'Shah Deniz'

Baku. 4 November. REPORT.AZ/ Today the work on the second phase of the Shahdeniz project is being implemented. In order to implement the third phase of the project technological advancement is needed.

Report informs, it was stated by the vice-president of BP in the Southern Gas Corridor, Joe Murphy, in his speech at the ongoing II Baku Caspian technical conference and exhibition of the Society of Petroleum Engineers (SPE): "There are large reserves on the field. We want to evaluate these prospects together with the State Oil Company of Azerbaijan  Republic (SOCAR)".

The deposit of Shahdeniz is located 70 km south-east of Baku, in the shelf zone of the Caspian Sea at a depth of 50-500 m. The field's reserves are estimated at 1,2 trillion cubic meters of gas. The deposit is considered to be one of the largest gas and condensate fields in the world.