SHAH DENIZ PROJECT HAS MADE SIGNIFICANT PROGRESS
As he stressed, the project is progressing according to schedule to meet the target of delivering first gas to the market before winter 2006. During the first half of the year the project spent $693 million of the $1081 planned capital expenditure for 2004. Particularly, the completed hull sections of TPG500 platform were loaded out in late July from Singapore. A ceremony was held on July 26, in the fabrication yard Keppel Fels, the Shah Deniz contractor for the out of country fabrication of the platform hull strips, to celebrate this important milestone. The platform hull comprises 15000 tonnes of steel and is formed of 12 block sections and over 680 steel panels.
The civil works for the Shah Deniz section have significantly moved ahead over the last three months and civil works are now 35% complete. Most of the large equipment pieces including the power turbines and the condensate metering skid have already been delivered and assembled on the foundation. Buildings construction has also commenced. The pipe fabrication work is expected to start in the near future.
Furthermore, the third Shah Deniz pre-drill well was successfully suspended on July 15. The Shah Deniz drillig team have successfully set the 15 slot seafloor drilling template, drilled and suspended the three planned pre-drilling wells and have discovered an additional gas reservoir below previously mapped horizons.
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