Azerbaijan, Baku, Nov.23 / Trend, E.Ismayilov /
During the first three quarters of 2011, the Shah Deniz field produced about 4.53 billion cubic meters of gas and 1.2 million tons (9.6 million barrels) of condensate, BP's report on nine months of 2011 on its official website says.
On average about 16.6 million cubic meters of gas per day and about 35,000 barrels of condensate per day were produced on the field in January-September.
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 plans to spend $169.9 million in operating expenditure and $791.6 million in capital expenditure on Shah Deniz activities. During the first nine months of 2011, Shah Deniz spent $139.1 million in operating expenditure and $467 million in capital expenditure.
Since the start of Shah Deniz production in late 2006 till the end of the third quarter of 2011 about 59.3 million barrels (7.49 million tonnes) of Shah Deniz condensate was exported to world markets. As of late October condensate export volumes were about 7.67 million tons.
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 - 25.5 percent, NICO - 10 percent, Total - 10 percent, LukAgip - 10 percent, TPAO - 9 percent, and SOCAR - 10 percent.