BP: Development of Shakh-Deniz-2 starts in 2018

​The second stage of development of one of the largest deposits in the world - Shakh-Deniz in Azerbaijan – starts in 2018.

The operator is BP which reports that preparatory works are completed by 60%.

The development of this project is very important for BP as it realization will contribute to the attraction of significant technological and commercial opportunities.

The success of the project will allow BP to partially cover the financial difficulties it faced at the development of ACG.

The maximum extraction at the Shakh-Deniz project is expected by 2022 when about 2.5 mln cubic feet of gas will be daily extracted. According to BP, the volume of extraction from Shakh-Deniz will seriously increase after the start of operation of the second stage in 2018.

The net present value of the project makes up $11.775 bln.