Consortium starts pumping gas from well |
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Tue, 20 Feb 2007 15:24
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BAKU, Azerbaijan (AP) - A BP PLC-led consortium began pumping gas Tuesday from a second production well at a giant Caspian Sea field off Azerbaijan's coast less than a month after the first well was shut down for unspecified technical reasons.Gas from the Shah Deniz field -- one of Azerbaijan's largest -- has been keenly awaited by both Azerbaijan and neighboring Georgia, both of which have been affected by Russia's decision to increase prices sharply last year.The second well began pumping early Tuesday and gas from the field had already entered the pipeline system of Azerbaijan's state oil company, SOCAR, the company said in a statement. SOCAR holds 10 percent in the consortium developing the field.BP, which holds a 25.5 percent stake, has forecast output at 2.8 billion cubic meters of gas in 2007 from a planned total of four production wells. The consortium also includes Norway's Statoil, France's Total, Russia's Lukoil and other companies.Commercial production began at the field's first well in December, but was stopped a week later due to unspecified technical problems. The well came back onstream a month later on Jan. 14, but the company announced it had again been shut on Jan. 23.The Dec. 15 halt in production forced Georgia to sign stopgap gas supply deals with Moscow at what it considers to be extortionate prices.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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