The Azerbaijan State News Agency

ECONOMY

President of SOCAR meets BP Chief Executive Officer

17.04.2012 [22:14]
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Baku, April 17 (AZERTAC). President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev met Robert Dudley, Group Chief Executive of BP, the Operator of Shah Deniz.

Abdullayev praised cooperation between SOCAR and BP, expressing hope it will continue successfully.

Dudley echoed the SOCAR chief`s words, saying the two companies have successful cooperation.

He updated Abdullayev on Shah Deniz projet progress.

He said Shah Deniz stage 2 project entered its next phase.

Shah Deniz Stage 2 is expected to add a further 16 billion cubic meters per year of gas production to the approximately 9 billion cubic meters from Shah Deniz Stage 1. Shah Deniz Stage 1 operations started in 2006. The maximum rate of production from Stage 1 is expected to be 8.6 billion cubic meters of gas per annum and approximately 50,000 barrels a day of condensate.