"Southern Gas Corridor" for the World Bank to allocate $ 400 million
The Government of Azerbaijan, JSC "Southern gas corridor" and the World Bank signed a legal document, a US $ 400 million loan to fund.
Azerbaijani media reported that the loan by the World Bank to allocate, the Trans-Anatolian gas pipeline (#TANAP) construction.
"Southern Gas Corridor" project is the creation of a pipeline infrastructure, which is the second stage of the extracted natural gas processing shah_denizis deposit on Europe via Georgia and Turkey.
The pipeline's initial capacity of 16 billion cubic meters TANAP-'s total. Of these, about 6 billion cubic meters will remain in Turkey, while the rest will be exported to the European market.
Shah Deniz Stage 2 within Georgia, the South Caucasus Pipeline Expansion works are already underway, costing $ 2 billion investment. 2000 people will be employed at various stages of construction, while the completion of the creation of 130 jobs. As a result, since 2019 Georgia will receive additional volumes of natural gas.
# # Shah_denizi samkhretis_gazis_derepani investment # # # construction of gas transit to # # # 2017 Energy energoplatporma
Steve C. Nicandros, Chairman and Chief Executive Officer commented:
“Our November program represents another important step in the continuation of our evolving well stimulation work. Our work at the Udabno#2 well is particularly important, as we plan to undertake a testing program that is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness. I look forward to communicating results in the weeks ahead.”
Can you believe this RNS is over a year old now. We had such high hopes then!
"As reported on 23 December 2015, operations continue associated within the western area of the Complex where work is ongoing to continue to explore, test and add new gas production from reservoirs situated between 300 metres and 5,000 metres in depth. Due to heavy snow during the past three weeks and the need to unexpectedly repair the existing wellhead as a result of high bottom hole pressures and resulting high shut-in surface pressures, operations at the Udabno#2 well remain at a depth of approximately 3,300 meters. In parallel, the Company has completed a gas testing program design with the assistance of Weatherford International (NYSE: WFT). The testing program is designed to evaluate an extensive gas-bearing interval of approximately 2,000 meters in gross thickness. Frontera’s internal reservoir engineering models estimate production capability in the range of 10 million – 20 million cubic feet per day of gas once Udabno#2 is completed during the first quarter of 2016."
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