“This is very good news with the QU deck float over operation successfully completed. And it is great to see it was executed safely. I would like to thank everyone who has contributed to this milestone through all phases of project preparation and execution,” said Ewan Drummond, BP’s Vice President, Projects.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996.
The shareholders in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
As part of the Stage 2 of development of the Shah Deniz field, the gas will be exported to Turkey and European markets by expanding the South Caucasus Pipeline and the construction of Trans-Anatolian Natural Gas Pipeline and Trans-Adriatic Pipeline.
The reserve of Shah Deniz field is estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate.
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