Georgia reveals volume of investments for South Caucasus Pipeline Expansion

"Over 6,000 Georgian citizens have been employed at the peak of SCPX. More than $2 billion planned investment was spent in Georgia, including $400 million on Georgian suppliers and services [for SCPX]," said a source in the ministry.

SCPX construction is making good progress in Georgia and remains on track to start up in 2018, added the source.

According to the Article 2, paragraph first of the amendments to the Law of Georgia "On the Structure, Authority and Activity Rules of the Government of Georgia", the Ministry of Energy was officially merged with Ministry of Economy and Sustainable Development of Georgia. Therefore, the Ministry of Economy and Sustainable Development of Georgia became legal successor.

The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.

The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPOC (19 percent).