Over 5 bln cubic meters of gas received from Shah Deniz field

In January-September, about 5.2 billion cubic metres of gas and 1.4 million tons (10.9 million barrels) of condensate or about 18.8 million cubic metres of gas per day and about 39,600 barrels of condensate per day were produced in the Azerbaijani gas-condensate field Shah Deniz, BP said in its report on nine months of 2012, published on Monday.

Some 6.67 billion cubic meters of gas and 1.8 million tons (14 million barrels) of condensate were produced at Shah Deniz in 2011. Last year, the average daily production from the field was 18.3 million cubic meters of gas and 38,300 barrels of condensate.

During the first nine months of 2012, Shah Deniz spent $214.9 million million in operating expenditure and $771.5 million in capital expenditure.

For the full year, BP plans to spend $211.5 million in operating expenditure and $1,340 million in capital expenditure on Shah Deniz activities.
Operating expenditure of the project in 2011 totalled $190.7 million, and capital expenditure - $674.9 million.

Since the start of Shah Deniz production in late 2006 till the end of the third quarter of 2012, about 35,304 million standard cubic metres of Shah Deniz gas, and over 75 million barrels (9.5 million tons) of Shah Deniz condensate was exported to the markets, the report says.

Peak production from the field in the first stage of development is projected at nine billion cubic meters of gas and 50,000 barrels of condensate.

Gas reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters.

The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, LukAgip - 10 per cent, TPAO - nine per cent and SOCAR-10 percent.


/Trend/