TODAY.AZ / Business

Shah Deniz to return on stream

07 February 2007 [22:04] - TODAY.AZ
Shah Deniz Field, the giant one in the Azerbaijani sector of the Caspian, will return on stream on Feb. 26, SOCAR President Rovnag Abdullayev said.

"The first well is being tested. If any teething troubles are found, we will return to the problem in summer," he noted.

He said Azerbaijan, Turkey and Georgia agreed on redistribution of Turkish quota of Shah Deniz gas and the issue on prices is not on agenda at present.

"It is not ruled out that Azerbaijan's and Georgia's quotas will change in future," he said, APA reports.

Gas output in Shah Deniz Field has been indefinitely suspended since Monday, Jan. 22.

Technical failure had occurred in the first well in early January which resulted in gas leakage. On Jan. 14 the production was resumed for an after-repair trial. However, it was decided to shut down the well again for repair on Jan. 22 for complete elimination of the failure.

BP is the 25% owner and operator of Shah Deniz, which is believed to contain 1 trln cubic metres of gas, making it the largest gas discovery ever made by the group.

The $4.5bln Shah Deniz project went on stream in December, 2006 and is expected to produce 8.6 bln cubic metres of gas a year. Shah Deniz gas is being pumped to Turkey, onward to Europe through Baku-Tbilisi-Erzurum pipeline.


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