The Shah Deniz consortium is planning to spend circa $2.3bn in 2013 within Shah Deniz Stage 2 in the Azerbaijani sector of the Caspian Sea, BP reported.
According to the report, following the final European route selection process (TAP or Nabucco
West), the Shah Deniz Final Investment Decision is expected later 2013.
Shah Deniz Stage 2 is projected to be ready for First Production in 2018.
The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, LUKoil - 10 per cent, TPAO - nine per cent and SOCAR - 10 per cent./AzerTAc/