BP announces operating results for Shah Deniz field in Azerbaijan

Oil&Gas Materials 7 May 2013 16:52 (UTC +04:00)

Azerbaijan, Baku, May 7 / Trend E. Ismayilov /

In the first quarter, the field produced about 2.42 billion cubic meters (about 85.6 billion cubic feet) of gas and 0.63 million tonnes (about 5 million barrels) of condensate or about 27 million cubic meters of gas per day (951 million standard cubic feet per day) and over 55,300 b/d of condensate, BP's official report on its activity in Azerbaijan in Jan.-March said today.

During the first quarter of 2013, Shah Deniz spent $42 million in operating expenditure and $395 million in capital expenditure. For the full year, we are planning to spend over $222 million in operating expenditure and about $2.270 million in capital expenditure on Shah Deniz activities.

Since the start of Shah Deniz production in late 2006 till the end of the first quarter of 2013, about 40 billion standard cubic meters of Shah Deniz gas, and about 85 million barrels (10.7 million tonnes) of Shah Deniz condensate was exported to the markets.

Peak production at the field within the first stage of development is projected at nine billion cubic meters of gas and 50,000 barrels of condensate.

Gas reserves of Shah Deniz field are estimated at 1.2 trillion cubic meters.

The contract to develop the offshore Shah Deniz field was signed on June 4, 1996. Participants to the agreement are: BP (operator) - 25.5 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, Lukoil - 10 per cent, TPAO - 9 per cent and SOCAR-10 per cent.