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BP gas output up in Azerbaijan

Oil&Gas Materials 18 November 2016 22:46 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Maksim Tsurkov – Trend:

Azerbaijan produced about 8 billion cubic meters of gas and 1.9 million tons (about 15 million barrels) of condensate from the Shah Deniz field in January-September 2016 as compared to 7.2 billion cubic meters of gas and 1.66 million tons of condensate in the same period of 2015, BP Azerbaijan said in a report Nov. 18.

BP Azerbaijan is the operator of the Shah Deniz field.

The report says the Shah Deniz facilities’ production capacity is currently 29.5 million cubic meters of gas per day (nearly 10.8 billion cubic meters per year).

During the three quarters of 2016, operating expenditure in Shah Deniz amounted to about $334 million and capital expenditure was about $2.77 billion, the main part of which was associated with the Shah Deniz Stage 2 project.

In 2015, 9.9 billion cubic meters of gas and 2.3 million tons of condensate (about 18.3 million barrels) were produced from the Shah Deniz field.

A 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 in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), LUKOIL (10 percent), NIOC (10 percent) and TPAO (19 percent).

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