“Shah Deniz phase 2, part of the Southern Gas Corridor mega-project, is one of the most complex projects we have ever untaken,” he said, adding that it spans six countries, involves 11 shareholder companies, with 176 million manhours worked since FID was taken four years ago.
“Shah Deniz stage 2 is on track for start-up in 2018, currently on time and under budget,” noted Dudley.
As part of the Shah Deniz 2 project, gas production will increase from 9 to 25 billion cubic meters per year. The produced gas will be exported to Turkey and the European markets through the expansion of the South Caucasus Pipeline and the construction of the Trans-Anatolian (TANAP) and Trans-Adriatic (TAP) gas pipelines.
A contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.
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