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Uzbekneftegaz in talks over joining Shah Deniz gas task in Azerbaijan

Uzbek energy firm Uzbekneftegaz remains in talks with Azerbaijan's SOCAR over signing up with a task to establish Shah Deniz, the biggest gas field in the Azerbaijani area of the Caspian Sea, an Uzbek authorities stated on Tuesday.

The problem of Uzbekneftegaz's involvement in gas production tasks is being gone over, Uzbekistan's minister of Investment, Market and Trade Lyaziz Kudratov said, including the talks were about participation in BP-led Shah Deniz.

Settlements are also underway for SOCAR to participate in oil and gas production projects in Uzbekistan, he stated.

On its website BP stated Shah Deniz is among the world's. largest gas condensate fields. It is located on the deepwater. shelf of the Caspian Sea 70 km south-east of Baku, in water. depths ranging from 50 metres to 500 metres.

SOCAR supervises the task on behalf of the Azeri state. BP. has a 29.99% stake, while Lukoil has 19.99%, TPAO has. 19%, NIKO has 10%, and SGC Upstream has 21.02%. BP runs Shah Deniz on behalf of its partners in the Shah. Deniz Production Sharing Agreement

(source: Reuters)