Bloomberg News

Socar Asks BP for Rapid Resumption of Gas Output at Caspian Well

December 04, 2012

State Oil Co. of Azerbaijan urged BP Plc (BP/) for a rapid completion of repairs at the Caspian natural gas field of Shah Deniz as demand for the fuel grows in winter.

One of the five wells at the field was shut for repairs after technical problems last month, Xosbaxt Yusifzada, first vice president of the state company known as Socar, said last week. The closing led to an 18 percent drop in production to 23 million cubic meters a day from 28 million cubic meters.

“We want the repairs to be completed quickly,” Socar President Rovnaq Abdullayev said today in the Azeri capital of Baku. “It is winter now and we need extra volumes of gas.”

Shah Deniz produced 5.2 billion cubic meters of gas in the first nine months, up 15 percent from a year earlier, BP said on Nov. 26. Gas from the field is also exported to Georgia and Turkey through the BP-led South Caucasus Pipeline.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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