Volume of production from Shahdeniz field announced

Shahdeniz field has produced 115 bcm of gas and more than 27 million tonnes of condensate since it was launched, Khoshbakht Yusifzade, the First Vice President of SOCAR, said in his interview to Xalg Gazeti, Report informs.

"Azerbaijan has turned from a gas importer into a gas exporting country. Time and implemented work proved that we were right. It’s already known that Shahdeniz’s hydrocarbon reserves include 1,200,000,000 cubic meters and 240 million tonnes of condensate. This field is one of the huge gas-condensate fields in the world," the SOCAR Vice President said.

The Agreement on exploration, development and production of the Shah Deniz field in the Azerbaijani sector of the Caspian Sea was signed on June 4, 1996 and entered into force on 17 October of the same year. According to BP, Shah Deniz Alpha and Shah Deniz Bravo platforms produced around 12.2 billion standard cubic metres (bscm) of gas and 2.6 million tonnes (about 21 million barrels) of condensate in January-September 2019. Shahdeniz gas is delivered to Azerbaijani, Georgian and Turkish markets.

Shah Deniz participating interests are BP (operator – 28.8 per cent), TPAO (19.0 per cent), AzSD (10.0 per cent), SGC Upstream (6.7 per cent), PETRONAS (15.5 per cent), LUKOIL (10.0 per cent) and NICO (10.0 per cent).