BP discloses gas production volumes in Azerbaijan

Baku, Azerbaijan, Feb. 16

By Maksim Tsurkov – Trend:

Azerbaijan produced about 10.2 billion standard cubic metres (bcm) of gas and 2.4 million tons (about 19 million barrels) of condensate the Shah Deniz field in 2017 compared to around 10.7 billion cubic meters of gas and 2.5 million tons of condensate in 2016.

The existing Shah Deniz facilities’ production capacity is currently 30.0 million standard cubic metres of gas per day or around 10.9bcma.

BP Azerbaijan is the operator of the Shah Deniz field.

In August 2017 production on the Shah Deniz field was suspended in connection with the preventive work on the platform.

In 2017, Shah Deniz spent approximately $451 million in operating expenditure and about $2.88 billion in capital expenditure, the majority of which was associated with the Shah Deniz 2 project.

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

A contract for development of the Shah Deniz offshore field was signed on June 4, 1996.

The shareholders in the contract are BP (operator - 28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).