The largest offshore gas condensate field of Azerbaijan "Shah Deniz" produced 100 billion cubic meters of gas. It is reported by Trend with reference to BP Azerbaijan. This milestone was reached 12 years after the start of commercial gas production and since the start of the South Caucasus gas pipeline.
Gas production at Shah Deniz began on 15 December 2006. Since then, the volume of gas produced has been transferred to the markets of Azerbaijan, Georgia and Turkey. Since 2006, the field has produced a total of more than 196 million barrels of condensate.
In 2018 in the framework of the project "Shah Deniz-2" has begun transporting commercial quantities of gas and with the platform of "Shah Deniz Bravo" was received first gas.
Shah Deniz-2 is the starting point of the new southern gas corridor through which Caspian gas will enter the European market for the first time. As part of the second stage of development, the field will produce an additional 16 billion cubic meters of gas per year. Of these, 6 billion will be supplied to Turkey and 10 billion to Europe. During the peak period, gas production from the Shah Deniz field will reach 26 billion cubic meters of gas per year and 120,000 barrels of condensate per day.
The contract for the development of the Shah Deniz field under the terms of the production sharing agreement was signed in June 1996. In December 2013, it was extended from 2036 to 2048. Among the parties to the agreement are BP (project operator), SOCAR, Petronas, Lukoil, NICO and TPAO.
The field was discovered in 1999. Its proven reserves are 1.2 trillion cubic meters of gas and 240 million tons of condensate.