Shah Deniz gas field
| Shah Deniz | |
|---|---|
 |
|
| Country | Azerbaijan |
| Offshore/onshore | Offshore |
| Coordinates | 39°58′N 50°13′E / 39.967°N 50.217°ECoordinates: 39°58′N 50°13′E / 39.967°N 50.217°E |
| Operator | BP |
| Partners | BP (28.8%), Turkish Petroleum Overseas Company Limited (19%), SOCAR (16.7%), Statoil (15.5%), LukAgip (10%), Oil Industries Engineering & Construction (OIEC) (10%). |
| Field history | |
| Discovery | 1999 |
| Start of production | 2006 |
| Production | |
| Current production of gas | 7×109 m3/a (250×109 cu ft/a) |
| Estimated oil in place | 3,000 million barrels (~4.1×108 t) |
| Estimated gas in place | 1,200×109 m3 (42×1012 cu ft) |
Shah Deniz gas field is the largest natural gas field in Azerbaijan. It is situated in the South Caspian Sea, off the coast of Azerbaijan, approximately 70 kilometres (43 mi) southeast of Baku, at a depth of 600 metres (2,000 ft). The field covers approximately 860 square kilometres (330 sq mi). The Shah Deniz gas and condensate field was discovered in 1999. Stretching out over 140 square kilometres, the reservoir is similar in size and shape to Manhattan Island.
It is considered to be a founding link for the Southern Gas Corridor, aiming to bring additional and alternative natural gas volumes to EU member countries.
The Shah Deniz field is operated by BP which has a share of 28.8%. Other partners include TPAO (19%), SOCAR (16.7%), Petronas (15.5%), LUKoil (10%) and NIOC (10%).
Eni sold its 5% share to LUKOIL in June 2004. Later divestitures included pre-FID (Final Investment Decision) in December 2013 sales of 10% of the shares by Statoil, to BP and SOCAR who shared them at 3.3% and 6.7% respectively. as well as sale by Total SA in May 2014 its 10% share to Turkish TPAO
In October 2014, Statoil sold its remaining 15.5% stake in the project to Petronas for a fee of $2.25 billion.
The Shah Deniz reserves are estimated at between 1.5 billion barrels (240,000,000 m3) to 3 billion barrels (480,000,000 m3) of oil equivalent from 50 to 100 billion cubic meters of gas. Gas production to date at the end of 2005 was estimated to be approximately 7 billion cubic meters (600 mmcf/day avg). The Shah Deniz field also contains gas condensate in excess of 400 million cubic meters.
The 692 kilometres (430 mi) South Caucasus Pipeline, which began operation at the end of 2006, transports gas from the Shah Deniz field in the Azerbaijan sector of the Caspian Sea to Turkey, through Georgia.
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Wikipedia