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    "Shah Deniz" field output figures announced

    Khoshbakht Yusifzade: Shah Deniz project is the third masterpiece of Heydar Aliyev

    Baku. 25 April. REPORT.AZ/ As of April 1 this year, 81 billion cum gas and 20 mln tons of condensate produced from "Shah Deniz" gas-condensate field in the Azerbaijani sector of the Caspian Sea.

    Report informs, First Vice-President of the State Oil Company of Azerbaijan Republic (SOCAR) Khoshbakht Yusifzade said at SOCAR II International Caspian & Central Asian Region Downstream: Trade, Logistics, Refining, Petrochemicals Forum in Baku dedicated to the 94th anniversary of birth of Azerbaijani national leader Heydar Aliyev.

    The Contract of the Century has introduced Azerbaijan as an oil country, and discovery of "Shah Deniz" field in June 1999, reserves of which make 1.2 trillion cum gas and 240 mln tons condensate at present, has also introduced Azerbaijan to the world as a gas exporter. "Shah Deniz" project is the third masterpiece of Heydar Aliyev. The history and fame of field associated with name of Azerbaijani national leader”.

    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%).

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