BAKU, Azerbaijan, June 2. Around 30% of the
work on the Shah Deniz Compression (SDC) project at Azerbaijan's
Shah Deniz field has already been completed, and the compressor
unit is scheduled to be commissioned in 2029, bp's Regional
President for Azerbaijan, Georgia, and Türkiye, Gio Cristofoli,
told reporters on the sidelines of Baku Energy Week, Trend reports.
"This project will breathe new life into the Shah Deniz field,"
he pointed out.
Furthermore, Cristofoli recalled that bp yesterday announced the
launch of the first well as part of the Azeri-Chirag-Gunashli (ACG)
free gas production project.
"Another well is planned to be commissioned soon. After that,
the data will be analyzed. This could pave the way for
multi-billion dollar investments in developing the gas reserves
beneath the ACG field," bp's regional president noted.
Cristofoli also emphasized that bp continues to implement new
technologies to increase production at ACG.
"To date, 4.6 billion barrels of oil have been produced from
ACG, and we believe the field's potential has not yet been
exhausted. Therefore, we continue to invest in technologies to
enhance oil recovery," he added.
The participating interests of the ACG co-venturers in the NAG
project are the same as in the existing ACG PSA: bp – operator
(30.37%), SOCAR (35.3%), MOL (9.57%), INPEX (9.31%), ExxonMobil
(6.79%), TPAO (5.73%), ONGC Videsh (2.92%).
The $2.9 billion SDC project, the next stage of development of
the giant Shah Deniz gas field, is designed to access and produce
low pressure gas reserves in the field and maximize resources
recovery.
The project is expected to enable around 50 billion cubic metres
of additional gas and approximately 25 million barrels of
additional condensate production and export from the Shah Deniz
field.
