BAKU, Azerbaijan, June 2. The Shah Deniz field will remain a backbone of the region's energy system for the upcoming decades, bp's Regional President for Azerbaijan, Georgia, and Türkiye, Gio Cristofoli, said at a session on"Executive Talks: Leadership Perspectives on Energy Transition and Future Strategies" within the framework of Baku Energy Week, Trend reports.
"The Shah Deniz field remains a key element of the region's energy security, and further investment and the introduction of new technologies will ensure its effective development in the long term," he explained.
According to him, Azerbaijan possesses a number of advantages that allow it to be considered a global energy hub for decades to come. Among these, he noted its strategic geographic location, developed infrastructure, favorable business environment, and high level of human capital.
"Our drilling, geology, commercial, and engineering specialists support not only projects in Baku but also many of the company's activities in other countries," Cristofoli said.
He emphasized that the Shah Deniz field is a shining example of the potential of Azerbaijan's energy sector.
"This is the foundation of energy security. The field's reserves amount to 28 trillion cubic feet of gas. For comparison, this volume is enough to meet the needs of the entire UK for 10 years," he noted.
Christofoli reported that bp continues to invest in increasing the field's reserve recovery rate.
"In particular, the company is implementing a program to drill new wells and is investing $2.9 billion in the construction of a compressor complex," he said.
According to him, the facility will be fully electrified and will be the first structure of such complexity in the Caspian.
Speaking about technology, Cristofoli noted that its effectiveness depends on its combination with qualified personnel and integration into production processes.
"For the first time in the Caspian Sea, we have implemented a new technology that allows for very precise pressure control. This is an example of how technology helps unlock the resource potential of fields," he said.
Cristofoli noted that significant reserves, investments in improving production efficiency, the implementation of advanced technologies, and the continued development of human resources will allow Shah Deniz to remain the backbone of the energy system for decades to come.
