Azerbaijan, Baku, May 17 / Trend, E.Ismayilov /
In January-March 2011, Shah Deniz gas condensate field produced about 1.84 billion cubic meters of gas and 0.4 million tons (3.1 million barrels) of condensate or about 20.4 million cubic meters of gas per day (725 million standard cubic feet per day) and about 34,400 barrels of condensate per day, BP's (operator of the field's development project) report says.
In 2010 the Azerbaijani Shah Deniz field produced about 6.9 billion cubic meters of gas and 1.9 million tons (14.7 million barrels) of condensate. Last year the field's average daily production hit about 19 million cubic meters of gas per day and about 40,200 barrels of condensate per day.
For the full year, BP is planning to spend $169.9 million in operating expenditure and $791.6 million in capital expenditure on Shah Deniz activities. In January-March 2011, operating expenditure within the project hit $ 47.9 million and capital expenditure - $125.8 million.
Since the start of Shah Deniz production in late 2006 till the end of the first quarter of 2011 about 52.9 million barrels (about 6.7 million tons) of Shah Deniz condensate was exported to world markets.
Peak production is forecasted at 9 billion cubic meters of gas and 50,000 barrels of condensate. The Shah Deniz's gas reserves are estimated at 1.2 billion cubic meters. According to forecasts, within the second phase of the field's development gas production here may be increased to 24 billion cubic meters per year.
The Shah Deniz's gas reserves are estimated at 1.2 billion cubic meters.
The contract to develop the offshore Shah Deniz field was signed June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 percent, Statoil - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, SOCAR-10 percent.