2nd Well Starts Pumping Gas at Azerbaijan's Shah Deniz Field

BAKU Feb.20, 2007 (Dow Jones Newswires)

A second production well began pumping gas Tuesday at the Shah Deniz field in Azerbaijan after the first was temporarily shut down due to technical problems, Azeri state oil and gas company SOCAR said in a statement Tuesday.

BP PLC (BP) is the operator for the offshore Shah Deniz field, and owns a 25.5% interest in the project. BP officials have forecast output at Shah Deniz will reach 2.8 billion cubic meters of gas in 2007 from a planned total of four production wells.

Norway's Statoil (STO), SOCAR, Russia's Lukoil Holdings (LKOH.RS) and France's Total SA (TOT) each own 10% stakes in the Shah Deniz development.

The field's first production well was initially commissioned in December.

Copyright (c) 2007 Dow Jones & Company, Inc.

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