Azerbaijan, Baku, August 10 / Trend E. Ismayilov /
About 3.6 billion cubic meters of gas and about one million tons (7,7 million barrels) of condensate were extracted in January-June from Azerbaijan offshore gas condensate field Shah Deniz, BP said. During this period the average daily gas production amounted to about 20 million cubic meters and condensate - 42,700 barrels.
According to the forecasts, it is planned to extract 7.6 billion cubic meters of gas and 2.01 million tons (16 million barrels) of condensate from Shah Deniz field.
Operating expenses for the project in January-June amounted to $81.3 million and capital expenditures - $162.2 million. This year operating costs of the project will amount to $177.8 million, and capital - $604.8 million.
Production of gas from Shakh Deniz was 6.2 billion cubic meters of gas in 2009 (16.9 million cubic meters per day) and 1.7 million tons of condensate with the forecast of 7.5 billion cubic meters of gas and 1, 9 million tons of condensate. About 39.34 million barrels of condensate (approximately 4.98 million tons) were delivered to the world markets since late 2006 (the start of production at the Shah Deniz field) until the end of the first quarter of 2010.
Four wells are exploited on the field. Another well was drilled in February. It is planned to conduct some operations on the well SDA-04 in the fourth quarter. Shakh Deniz field's reserves are estimated at 1.2 trillion cubic meters of gas.
Engineering design and evaluation work were held on the second stage of the development of Shah Deniz and expansion of the Baku-Tbilisi-Erzurum gas pipeline during the second quarter. This work will be continued in the second half of this year.
The negotiations are held to reveal the best variant to sell gas from the second phase of Shah Deniz. These negotiations are chaired by SOCAR leadership.
Participants of the agreement on production sharing in "Shah Deniz" project: BP (operator - 25,5 percent), Statoil (25,5 percent), SOCAR (10 percent), LUKOIL (10 percent), NICO (10 percent), Total (10 percent), and TPAO (nine percent).