Gas production from "Shah Deniz" field up by 8% in 2016

Baku. 21 February. REPORT.AZ/ In 2016, Shah Deniz field continued to provide reliable deliveries of gas to markets in Azerbaijan (to SOCAR), Georgia (to GOGC), Turkey (to BOTAS) and to BTC Company in multiple locations.

In 2016, the field produced about 10.7 billion standard cubic metres (bcm) of gas and 2.5 million tonnes (about 20 million barrels) of condensate.

Report informs, operator of the block, "BP-Azerbaijan" said.

During the reporting period gas production from "Shah Deniz" field increased by 8%, while condensate production by 8.7% compared to 2015.

In 2016, the Shah Deniz field continued to provide reliable deliveries of gas to markets in Azerbaijan (to SOCAR), Georgia (to GOGC), Turkey (to BOTAS) and to BTC Company in multiple locations.

In 2016, the field produced about 10.7 billion standard cubic metres (bcm) of gas and 2.5 million tonnes (about 20 million barrels) of condensate.

The existing Shah Deniz facilities’ production capacity is currently 30.0 million standard cubic metres of gas per day or around 10.9bcma.

Notably, Shah Deniz field is located on Caspian Sea shelf, 70km 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.

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%).