BP Spuds First Shah-Deniz Well

BP has spudded the first of three wells at the Shah-Deniz field in the Azerbaijani sector of the Caspian. The well is being drilled by the semisubmersible, Istiglal. "At this stage the project is progressing according to schedule and we are confident that we will meet our target of delivering first gas to the market before winter 2006," Shah-Deniz President Rob Kelly said in a statement.

Partners in the Shah Deniz Field are BP with 25.5%; Statoil with 25.5%; SOCAR with 105; LUKAgip with 10%; NICO with 10%; TotalFinaElf with 10%; and TPAO with 9%.