Building works on “Shahdeniz” project realized 62,4 %

This was stated by the president of “Shahdeniz” project Mike Skitmor in a press-conference held by him in connection with “Shahdeniz” Share Division of Production Agreement (SDPA) at the “Hyatt-Park” hotel yesterday.

He informed that the project is realized in two stages and the first stage costing $ 4,1 milliard is being realized at present. M.Skitmor noted that this project is the biggest discovery which operator is BP since discovering the “Prudhoy Bay” deposit. Primary geological gas reserve of “Shahdeniz” being the giant gas condensate deposit is 38 trillion cubic foot.

The condensate reserve is 2 milliard 100 million barrels. M.Skitmor informed that after sanction is given to the project the building progress on the stage was 62,4 %. Gas produced in “Shahdeniz” will be sold since the 4th term of the next year and yearly gas export will reach 8,6 milliard cubic meters till 2009.

/APA/