Azerbaijan, Baku, Nov. 30 /Trend/
In Jan.-Sept. this year, over 5.3 billion cubic meters of gas and about 1.4 million tons (11.5 million barrels) of condensate were produced from the Azerbaijani offshore Shah Deniz gas field, according to a report by BP (operator of the field development project). During this period, the average daily production of gas from the field was about 20 million cubic meters and condensate - 41,900 barrels per day.
For the full year the company plans to produce 7.6 billion cubic meters (around 269 billion cubic feet) of gas and more than 2 million tonnes (around 16 million barrels) of condensate. Production will increase as new platform-drilled wells are brought on stream over the next few years. Plateau production from Stage 1 is expected to be 8.6 billion cubic meters of gas per annum and approximately 45,000 b/d of condensate. Shah Deniz Full Field Development is a giant project which is expected to add a further 16 billion cubic meters per year (bcma) of gas production to the existing 8 bcma from Stage 1, opening up Azerbaijan as a major gas supplier to new gas markets. At this stage the project plans to deliver First Gas in 2017.
During the first three quarters Shah Deniz spent $121 million in operating expenditure and $251.1 million in capital expenditure. For the full year the company is planning to spend $177.8 million in operating expenditure and $604.8 million in capital expenditure on Shah Deniz activities.
In 2009, gas production from the Shah Deniz field was 6.2 billion cubic meters of gas (16.9 million cubic meters average per day) and 1.7 million tons of condensate under forecasted of 7.5 billion cubic meters of gas and 1.9 million tons of condensate.
Since the start of Shah Deniz production in late 2006 till the end of September 2010 about 46 million barrels (about 5.8 million tonnes) of Shah Deniz condensate was exported to world markets.
During the first three quarters the field continued to produce from four wells. Drilling one more well started in February, which will complete in 2011.
The reserves of the Shah Deniz field are estimated at 1.2 trillion cubic meters of gas.
Shah Deniz participating interests are: BP (operator - 25.5%), Statoil (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).