Azernews.Az

By Mirsaid Ibrahimzade

The giant Shah Deniz field, which has the capacity to export a large amount of natural gas to the world, makes companies operating here extend their contracts due to high profits and secure future.

Maersk Drilling, which is headquartered in Denmark, told Trend that the company is interested in further using its drilling rig on the shelf of Azerbaijan after the Shah Deniz field contract completion in 2021.

“We can confirm that our semi-submersible drilling rig Maersk Explorer has been working at the Shah Deniz field in Azerbaijan since 2007. The corresponding contract with BP was concluded until May 2021," the company said.

"Naturally, we are interested in exploring opportunities for the further exploitation of our drilling rig in Azerbaijan, as well as in continuing cooperation in the future with local suppliers and labor force, who are currently involved in the operation of our drilling rig and provide excellent productivity,” Maersk Drilling added.

The company said that 86 percent of the current staff of the rig is citizens of Azerbaijan.

Maersk Drilling is a subsidiary of the A.P. Moller – Maersk Group, established in 1972. The company is one of the Group's core businesses.

Shah Deniz is the largest natural gas field in Azerbaijan. It is situated in the south of the Caspian Sea, off the coast of Azerbaijan, approximately 70 kilometers southeast of Baku, at a depth of 600 metres. The field covers approximately 860 square kilometers.

It is considered to be a founding link for the Southern Gas Corridor, aiming to bring additional and alternative natural gas volumes to EU member countries.

In accordance with the documents signed in Baku on December 17, 2013, the contract for the field development was extended from 2036 to 2048, while the share distribution among the parties to the agreement is as follows: BP - 28.8 percent, TPAO - 19 percent, Petronas - 15.5 percent, AzSD (SOCAR) - 10 percent, Lukoil - 10 percent, NICO - 10 percent, and SGC Upstream - 6.7 percent.

The proved reserves of the field reach 1.2 trillion cubic meters of gas and 240 million tons of condensate.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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