Production at Shah Deniz field increases by over 40 percent

Oil&Gas Materials 14 November 2013 10:08 (UTC +04:00)

Baku, Azerbaijan, Nov. 14
By Emin Aliyev - Trend: Around 7.3 billion cubic meters of gas and 1.4 million tons of condensate (10.9 million barrels) was produced at Azerbaijan's Shah Deniz gas condensate field in January-September compared to 5.2 billion cubic meters and 1.85 million tons in the same period of 2012, BP report on the results of first nine months of 2013 published on Nov.13 said.

According to the information, the average daily volume of gas production at the field amounted to 26.6 million cubic meters in January-September compared to 18.8 million cubic meters in 2012.

The average daily volume of condensate production increased from 39,600 barrels in 2012 to 53,700 barrels.

According to the report, the operation expenditures within the project amounted to $143 million and capital expenditures totaled $1.364 billion during the first nine months. The operation expenditures within the project are anticipated in the amount of $222 million and capital expenditures - $2.191 billion in 2013.

From late 2006 (beginning of production at Shah Deniz) to late September 2013, some 44.8 billion cubic meters of gas and 12 million tons (94.6 million barrels) of condensate was sent to world markets, the report said.

The peak production at the field within the first phase of development is anticipated at the level of 9 billion cubic meters of gas and 50,000 barrels of condensate.

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

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