February 24, 2017 / 8:35 AM / 6 months ago

FACTBOX-Azerbaijan's main gas fields

BAKU, Feb 24 (Reuters) - Azerbaijan produced 29.33 billion cubic metres (bcm) of gas in 2016, down from 29.72 bcm in 2015. Azeri state energy company SOCAR's own production was 6.27 bcm, down from 6.87 bcm of gas produced in 2015.

The country began importing gas from Iran last year to cover a domestic shortfall.

Below is the list of Azerbaijan's main gas fields:

SHAH DENIZ - Being developed by an international consortium led by BP, it has been estimated to contain 1.2 trillion cubic metres of gas, which European companies hope can supply them for decades, cutting their dependence on Russia.

Shah Deniz I has been pumping gas since 2006 and has an annual production capacity of about 10 billion cubic metres (bcm) of natural gas.

Shah Deniz II is expected to produce 16 bcm of gas a year beginning in 2019-2020, with 10 bcm earmarked for Europe and 6 bcm for Turkey.

UMID - The field, whose name means "Hope", is situated in the South Caspian Sea, about 75 km (50 miles) southeast of the capital Baku, at a depth of 170 metres.

Azeri state energy company SOCAR said in 2010 it had found at least 200 bcm of gas and 30 million tonnes of gas condensate at the Umid field.

The company said later that Umid had a potential to produce 2-3 bcm a year.

SOCAR had planned to attract foreign companies to develop Umid, but postponed the plan as energy prices collapsed.

BULLA DENIZ - Developed by SOCAR since 1975 it was considered as largest gas find in Azerbaijan before Shah Deniz and is estimated to contain more than 110 bcm of gas reserves. More than 62 bcm of gas and 12 million tonnes of oil and gas condensate have been produced at the field since 1975.

Rakhman Qurbanov, a SOCAR vice president, told Reuters it expected to increase production by 1 bcm per year, calling it a "long term prospect".

ABSHERON - An offshore gas field in the Caspian Sea located 100 km southeast of Baku and 25 km northeast of the Shah Deniz gas field. It covers about 270 square kilometres.

The field, discovered in 2011, is expected to contain 350 bcm of natural gas and 45 million tonnes of condensate.

SOCAR and French oil and gas company Total signed an agreement to develop the Absheron field in November, with production is expected to come on stream in 2021-2022 and go to plateau production in or after 2025.

There are hopes that Absheron will be able to yield at least 5 bcm per year at plateau.

DEEP GAS ACG - Major Azer-Chirag-Guneshli (ACG) oil fields contain an estimated 200 bcm of gas reserves. SOCAR is in talks with BP over exploration. (Reporting by Margarita Antidze and Nailia Bagirova; editing by Katya Golubkova)

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