BP announces production volume in Azerbaijani Shah Deniz field
Azerbaijan, Baku, August 7 /Trend, E.Ismayilov/
Around 4.8 billion cubic meters of gas and about 1.26 million tons of condensate (nearly 10 million barrels) was produced in the Azerbaijani offshore gas condensate field Shah Deniz in the first six months of 2013, according to a BP report on the results of activity in Azerbaijan in January-June, 2013.
According to the report, the average daily volume of gas production in the field amounted to approximately 27 million cubic meters and the average daily volume of condensate production amounted to 54,800 barrels in the first six months of 2013.
The report mentioned operating expenses within the project amounted to $94 million and capital expenses to $855 million during the first half-year. The operating expenses within the project are expected to amount to $225 million with capital expenses reaching $2.31 billion in 2013.
Nearly 42.7 billion cubic meters of gas and 11.3 million tons of condensate (90 million barrels) have been sent to world markets from the end of 2006 which was the start of production at Shah Deniz to the end of the first six months of 2013, the report said.
Peak production in the field within the first stage of development is expected to amount to around nine billion cubic meters of gas and 50,000 barrels of condensate.
Reserves at the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
The contract on development of the Shah Deniz offshore field was signed on June 4, 1996. Stakeholders 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 - nine per cent and SOCAR - 10 per cent.