Baku. 13 January. REPORT.AZ/ The first gas production in the second phase of the "Shah Deniz" field development in the Azerbaijani sector of the Caspian Sea is expected to start on September 20, 2018.
Report informs, the State Oil Company of Azerbaijan Republic (SOCAR) told Natural Gas World.
According to information, volume of the gas to be produced this year will not be too high. However, it has already been planned to produce additional 2 bln cum of gas from this field in 2019.
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 reserves are about 1.2 trillion cubic meters of gas. The field is one of the largest gas and gas-condensate fields 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 (PSA) 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%).