BP announces oil and gas volumes received within projects in Azerbaijan

Azerbaijan, Baku, April 14 / Trend, E. Ismayilov /

The British BP received an average of 94,000 barrels of oil per day within equity in the project to develop the Azeri-Chirag-Guneshli (ACG) Fields in the Azerbaijani section of the Caspian Sea.

The ACG participating interests are: BP (operator - 37. 4 percent), Chevron (11.3 percent), SOCAR (10 percent), INPEX (11 percent), Statoil (8.6 percent), ExxonMobil (8 percent), TPAO (6.7 percent), ITOCHU (4.3 percent), and Hess (2.7 percent).

BP also received 9,000 barrels of condensate on average per day within equity in the project to develop the Azerbaijani Shah Deniz gas field.

Daily gas output hit more than 3.77 million cubic meters last year compared to 3.6 million cubic meters in 2009.

At present, gas is produced from four wells at the field. Daily gas production from the platform at the field is 15-23 million cubic meters, depending on the gas demand.

After commissioning new wells, it may reach 25-26 billion cubic meters per day.

Peak production is forecast at over 8.6-9 billion cubic meters. Gas production may be brought up to 25 billion cubic meters per year under the second stage of development.

The field's reserves are estimated at 1.2 trillion cubic meters during the first stage.

The contract to develop Shah Deniz was signed June 4, 1996. Participants are: BP (operator) - 25.5 percent, Statoil Hydro - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, and SOCAR - 10 percent.