home . news & publications . Investment News . $2.3 Billion to Be Spent on Shah Deniz Stage 2

$2.3 Billion to Be Spent on Shah Deniz Stage 2

According to BP, the Shah Deniz consortium is planning to spend $2.3 billion in 2013 within the Shah Deniz Stage 2 project in the Azerbaijani sector of the Caspian Sea.

BP reports that following the final European route selection process (TAP or Nabucco West) a decision on Shah Deniz final investment decision is expected later this year.

Shah Deniz Stage 2 is projected to be ready for first production in 2018.

The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) with 25.5 percent; Statoil - 25.5 percent; NICO - 10 percent; Total - 10 percent; Lukoil - 10 percent; TPAO - 9 percent; and SOCAR - 10 percent.

Source: AzerTAc

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