Shah-Deniz is due to produce its first gas mid-2006. Reserves are estimated at 625 bcm of gas and 101 million tonnes of condensate.
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Azeri Oil Firm Stopped Finansing Gas Project
The State Oil Company of the Azerbaijani Republic has finished financing
The State Oil Company of the Azerbaijani Republic (Socar) has finished financing its 10 percent interest in the Shah-Deniz gas project, Natik Aliyev, Socar head, said.
He said Socar had reached agreement with the European Bank for Reconstruction and Development (EBRD) on a credit of $170 million for the project. Socar would provide the rest of the capital itself.
Shah-Deniz is due to produce its first gas mid-2006. Reserves are estimated at 625 bcm of gas and 101 million tonnes of condensate.
Shah-Deniz project participants are BP, the project operator, with 25. %% of the interest; Statoil with 25.5%; Socar with 10%; LUKAgip 10%; Iran's NICO 10%; TotalFinaElf 10% and TPAO 9%.
Shah-Deniz is due to produce its first gas mid-2006. Reserves are estimated at 625 bcm of gas and 101 million tonnes of condensate.
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