ECONOMY
SHAH DENIZ PRODUCTION IN EXCESS OF ABOUT 14.2 MILLION CMD OF GAS AND OVER 30,000 BARRELS OF CONDENSATE PER DAY
According to the BP-Azerbaijan company, under the Shah Deniz project, important actions are being taken to increase gas production from the field.
During the first half of 2007, the project spent $75 million of the planned $196 million operating expenditure for the full year, and $177 million of the planned $378 million annual capital expenditure on Shah Deniz activities.
The field has been producing steadily since early March to off-take points in Azerbaijan and Georgia. In July the first gas started to flow into BOTAS’s gas transportation system through the South Caucasus Pipeline (SCP), which is routed through Azerbaijan and Georgia. The gas from Shah Deniz Stage 1 is currently sold to Azerbaijan, GOGC (Georgia), BOTAS and the BTC Company.
Shah Deniz production is currently in excess of 500 mmscfd (about 14.2 million cmd) of gas and over 30,000 barrels of condensate per day. Production will continue to increase during the year as the remaining pre-drilled well is brought on stream. Drilling of new wells will commence from the platform later this year.
Plateau production from Stage 1 will be 8.6 billion cubic meters of gas per annum and approximately 45,000 barrels of condensate per day.