BAKU, Azerbaijan, July 18. Shah Deniz will reach peak production of 26 billion cubic meters by the end of 2022, VP Caspian Communications & Advocacy at bp Bakhtiyar Aslanbayli told reporters, Trend reports.
Condensate output also continues successfully. It is also planned to drill additional wells at Shah Deniz. Its production will remain at peak for some time. There are some expectations regarding additional volumes of gas. bp, as the operator, achieves maximum level of production at Shah Deniz and it is possible to keep these levels for a certain period. As for the expansion of the Southern Gas Corridor, it is in the jurisdiction of the government. We, on our part, are ready from the technical point out view. We are interested in more production, more exports. Each additional production requires investments, which needs feasibility. Investment payback in gas business takes long time. Therefore, there is a need for long-term sale and purchase agreements,” he said.
The existing Shah Deniz facilities’ production capacity is currently about 72 million standard cubic metres of gas per day or more than 26 bcma.
Shah Deniz participating interests are: bp (operator – 29.99 percent), LUKOIL (19.99 percent), TPAO (19 percent), SOCAR (14.35 percent), NICO (10 percent) and SGC (6.67 percent).