BP-Azerbaijan to spend 2.660 bn to Shah Deniz oilfield in 2013

BP-Azerbaijan will spend over $222 million in operating expenditure and about $2.660 billion in capital expenditure on Shah Deniz activities in 2013.

Some $269 million was spent in operating expenditure and $1,099,000,000 in capital expenditure of Shah Deniz in 2012.

In 2012 the Azerbaijani offshore gas condensate field Shah Deniz produced about 7.73 billion cubic meters (about 273 billion cubic feet) of gas and 2.0 million tons (about 16.1 million barrels) of condensate, a BP report on 2012 results says.

According to the report, the field produced about 21.1 million cubic meters of gas per day and about 44,100 barrels of condensate per day.

Since late 2006 till the end of 2012, about 37.6 billion standard cubic meters of Shah Deniz gas, and 10.1 million tons (80 million barrels) of Shah Deniz condensate were exported to the markets.

Shah Deniz Stage peak production is expected at nine billion cubic meters of gas and 55,000 barrels of condensate.

Reserves of the Shah Deniz field 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 per cent, Statoil - 25.5 per cent, NICO - 10 per cent, Total - 10 per cent, Lukoil - 10 per cent, TPAO - nine per cent and SOCAR - 10 per cent.


/AzerTAc/