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Last investment decision on 2nd phase of exploitation project of Shah Deniz Field to be made after year

15 September 2010 07:55 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. The last investment decision on the 2nd phase of exploitation project of Shah Deniz field will be made in October, 2011, the chief of the SOCAR Department of Gas Operations Kamal Abbasov informed.

According to him SOCAR has mandate on the playing of main role in conducting of negotiations about investments. The first investment decision will be made in March, 2011, last decision in October, 2011.

Note that Shah Deniz projectâ€™s participants are: BP (operator â€“ 25,5%), Â«StatoilÂ» (25,5%), ARDNÅž (10%), Â«LUKoilÂ» (10%), NIKO (10%), Â«TotalÂ» (10%) and TPAO (9%) companies.

At the first half-year 2010, Shah Deniz produced 3.6 bln cubic meters of gas and 1 mln tons of condensate.