The annual production volume of gas in the first phase of the development of the gas condensate field Shah Deniz is planned to increase from 9 billion to 10.4 billion cubic meters , said Tuesday at a press conference in Baku, the Vice-president of the British BP to develop Shah Deniz Al Cook.According to him, an additional 1.4 billion cubic meters in the new contract will be sold to SOCAR (State Oil Company of Azerbaijan) ." This new contract is beneficial to both sides and opens up new possibilities for the realization of the project Shah Deniz," said Cook. Cook did not name the cost of selling additional gas, referring to a commercial secret.According to him, at present , work is underway to increase production volumes , and last week BP reached record levels, which translate into an annual equivalent of about 9.8 billion cubic meters of gas .According to the Vice -president of BP, gas production from the field is carried out with five wells."Extension of the contract Shah Deniz until 2048 is very important because we can plan long-term exploration in the field," he said.According to him, on the field, there are three areas, where it is planned to conduct seismic surveys. Exploration work in the field continues to re-analyze the data, which in turn gives the opportunity to say that the field may contain more stocks.

The volume of gas reserves in the formations that are currently being developed in the field is 33 trillion cubic feet (0.9 trillion cubic meters), whereas in the whole of the deposit reserves are estimated at 40 trillion cubic feet  (1.1 trillion cubic meters).  

ANN.Az