Revised phase two investment is now estimated at between $28 billion and $30 billion, according to state oil company Socar president Rovnag Abdullayev.
The original budget for the stage-two development about two years ago was estimated at $20 billion and subsequently raised to $25 billion.
The Shah Deniz partnership, including BP, Statoil, Total, Lukoil, TPAO, Iran’s Nico and Socar have already approved expenditure of $6 billion this year on phase two, Abdullayev said.
The
