Contract of Century dramatically boosted Azerbaijan's gas production
By Aynur Jafarova
The signing of the Contract of the Century [September 20, 1994] dramatically boosted the natural gas production in Azerbaijan. It grew from 5.6 billion cubic meters in 2004 to 29.5 billion cubic meters in 2013.
These remarks were made by President of Azerbaijan's state energy company SOCAR Rovnag Abdullayev in an interview with the official website of the ruling New Azerbaijan Party.
He noted Azerbaijan's giant Shah Deniz gas condensate field in the Caspian Sea continued to provide reliable deliveries of gas to markets in Azerbaijan (to SOCAR), Georgia (to GOGC) and Turkey (to BOTAS and the BTC company) during the first half of 2014.
"During the first six months of 2014, the field produced 4.75 billion standard cubic meters of gas and about 1.12 million tons (9 million barrels) of condensate or about 26.2 million cubic meters of gas per day and 49,757 barrels per day of condensate," Abdullayev said.
"Since the start of Shah Deniz production in late 2006 until the end of the second quarter 2014, about 52.7 bcm of Shah Deniz gas and about 108.5 million barrels (over 13.6 million tons) of Shah Deniz condensate has been produced."
The Shah Deniz field, one of the world's largest gas-condensate fields, was discovered in 1999. Its reserves are estimated at 1.2 trillion cubic meters of gas. Overall, the field has proven to be a secure and reliable supplier of gas to Azerbaijan, Georgia, Turkey, and Europe.
The gas which will be produced at the second stage of Azerbaijan's Shah Deniz field development will be the main source of the Southern Gas Corridor, which envisages the transportation of the Caspian gas to European markets.
He also noted special attention is paid to increasing the profitability of Bahar, 8 March, Gunashli and Bulla-Deniz gas-condensate fields.
Touching on the progress in gasification process, Abdullayev said in 2009-2014 a total of 691 residential areas across the country were supplied with gas for the first time.
"Currently, 90.4 percent of the entire territory of the country is gasified. In Baku, this figure is 99.1 percent, while in the regions it is 84.3 percent," the SOCAR head noted.
"The work to install gas-meters in the country is 100 percent completed," Abdullayev said.
Work to supply the country with gas is carried out under the state program for the socio-economic development of the regions.