Less gas from Shah Deniz for SOCAR

Mon 21 Feb 2011 04:43 GMT | 08:43 Local Time

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Azerbaijan's state oil company SOCAR received 7.7m cubic metres of gas from the Shah Deniz project in January.

This was less than half the 15.9m cubic metres the company received in January 2010, according to figures from SOCAR.

Output at the Shah Deniz gas condensate field was presumably also down in January, but the figures have yet to be announced.

SOCAR receives gas from Shah Deniz as it has a 10% share in the project. However, it buys far more gas from the offshore field than it receives as a project partner. In January to November 2010, SOCAR bought 1.557bn cu.m of gas from Shah Deniz, while it received 150.4m cu.m from its share in the project in the year as a whole.

The Shah Deniz contract was signed in Baku on 4 June 1996 and ratified by the Milli Majlis on 17 October the same year.

The other participants in the Shah Deniz project are BP, which is the operating company, with a 25.5% share, Statoil (25.5%), Lukoil (10%), NICO (10%), TotalFinaElf (10%) and TPAO (9%).

Rufat Abbasov
News.Az

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