ECONOMY
66 PERCENTS OF PROJECT WORKS COMPLETED
66 percents of construction works in the frame of development of Shahdeniz gas-condensate deposit project have been completed. In the first half of next year, the TPG 500 platform is to be installed in the deposit, and beginning from September the first gas will be delivered to the shore.
In the first phase of Shahdeniz project, 14 wells are to be drilled. This will cost 800 million dollars for the Project partners. First, will be produced 5 billion cubic meters of gas, further 8, 10, 12 and 20 billion cubic meters of gas. Daily gas condensate volume will average 25-45 thousand barrel.
Next year, Azerbaijan will produce from Sahdeniz deposit 1 billion, in 2007 – 3 billion cubic meters of gas.
In the first half of current year, the Project expenses made 588 million dollars. Late this year, it is to spend 1 billion 318 million dollars instead of the envisioned 1 billion 269 million dollars.
The expected rise in Project costs is connected to growth of modernization expenses and frequent change of currency rate.
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