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Azerbaijan’s gas output down in 1Q17

Oil&Gas Materials 10 May 2017 17:31 (UTC +04:00)

Baku, Azerbaijan, May 10

By Maksim Tsurkov – Trend:

Azerbaijan produced 2.4 billion cubic meters of gas and 0.6 million tons (about 4.6 million barrels) of condensate from the Shah Deniz field in January-March 2017 as compared to 2.7 billion cubic meters of gas and 0.6 million tons of condensate in the same period of 2016, reads a BP report for the first quarter of 2017.

BP Azerbaijan is the operator of the Shah Deniz field’s development.

The report says the average daily gas production at the field is currently 30 million cubic meters (about 10.9 billion cubic meters of gas per year).

In the first quarter of 2017, operating costs within the Shah Deniz project were about $113 million and capital costs were about $835 million, the main part of which was related to the Shah Deniz Stage 2.

In 2016, 10.7 billion cubic meters of gas and 2.5 million tons (about 20 million barrels) of condensate were produced from the Shah Deniz field.

A contract for development of the Shah Deniz offshore field was signed on June 4, 1996. 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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