Shahdeniz project expends $47.9m in 2011

Baku, May 19 (AZERTAC). In the first quarter of 2011 Shah Deniz project spent $ 47.9 million in operating expenditure and $125.8 million in capital expenditure.

For the full year, BP-Azerbaijan is planning to spend $169.9 million in operating expenditure and $791.6 million in capital expenditure on Shah Deniz activities.

During the first quarter 2011 the field continued to produce from four wells to deliver gas to the markets of Azerbaijan, Georgia and Turkey. The gas from Shah Deniz Stage 1 continues to be sold to Azerbaijan, GOGC (Georgia), BOTAS and the BTC Company

During the first quarter of 2011 the field produced about 1.84 billion cubic meters of gas and 0.4 million tonnes (3.1 million barrels) of condensate or about 20.4 million cubic meters of gas per day and about 34,400 barrels of condensate per day.

Since the start of Shah Deniz production in late 2006 till the end of the first quarter of 2011 about 52.9 million barrels (about 6.7 million tonnes) of Shah Deniz condensate was exported to world markets.

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 approximately 9 billion cubic meters of gas per annum and approximately 50,000 b/d of condensate.

Shah Deniz participating interests are: BP (operator – 25.5%), Statoil (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).