10.2 bln cum gas extracted from "Shah Deniz" field last year

Baku. 30 January. REPORT.AZ/ Last year, 10 168.1 mln cubic meters of gas extracted from Shah Deniz gas condensate field, located in the Azerbaijani sector of the Caspian Sea.

Report informs, the volume of gas production from the field last year is 4.7% less compared to 2016.

During reporting period, total of 28 597.9 mln. cubic meters of natural gas produced in the country (2.6% less than in 2016). 6 089.1 mln. cubic meters of gas accounted for the State Oil Company of Azerbaijan Republic (SOCAR), 12 340.7 mln. cubic meters for Azeri-Chirag-Gunashli (ACG) fields block, 10 168.1 mln. cubic meters for "Shah Deniz".

Notably, "Shah Deniz field" is located on Caspian Sea shelf, 70 km south-east from Baku coast with depth of water changing between 50-500 meters. The field’s estimated natural gas deposits are about 1.2 trillion cubic meters. It is one of largest gas-condensate deposits in the world.

So far, about 88.5 bln. cubic meters of gas, about 22 mln tons of condensate produced in "Shah Deniz" field.

The agreement on "Shah Deniz" perspective area exploration, development and production sharing was signed June 4, 1996. 'Shah Deniz' production sharing agreement was ratified on October 17, 1996. Participants to the agreement are: BP (operator - 28.8%), AzSD (10%), SGC Upstream (6.7%), Petronas (15,5%), LUKoil (10%), NICO (10%) and TPAO (19%).