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135 bln cubic meters of gas produced from “Shahdeniz” over past 15 years

08 February 2021 11:32 (UTC +04:00)

135 bln cubic meters of gas has been produced from the commissioning of the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea (2006) to the end of 2020, BP told APA-Economics.

According to the information, in the reporting period, 32 mln tons of condensate has been produced.

Note that the agreement on the distribution of shares in the Shah Deniz field has been signed in 1996 and has been ratified. The project includes BP (operator - 28.8%), AzSD (10%), SGC Upstream (6.7%), Petronas (15.5%), Lukoil (10%), NICO (10%). ) and TPAO (19%).

According to the information of BP, more than 3,8 barrels of oil have been produced from the Azeri-Chirag-Guneshli (ACG) block of fields from the commissioning till the end of the previous year.

Recall that the distribution of the shares are in this proportional: BP - 30.37% (operator), AzACG (SOCAR) - 25.00%, MOL - 9.57%, Inpex - 9.31%, Equinor (formerly Statoil) - 7.27% , ExxonMobil - 6.79%, TPAO - 5.73%, Itochu - 3.65% and ONGC Videsh Ltd. (OVL) - 2.31%. The agreement between parties was valid in 30 years ( it must end in 2024). Despite this, Azerbaijani Government and SOCAR, international partners have signed an amended and revised agreement on joint commissioning of ACG and Share of Production with companies. The new agreement, that covers the development of ACG till 2050, will pave a way to significantly increase the bloc's development potential by the middle of the century.