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.
