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Shah Deniz operating expenditure to surge by 74% this year

08 May 2009 10:29 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. The Shah Deniz project, a gas and condensate development in the Azerbaijan sector of the Caspian Sea, is planned to spend $264 million in operating expenditure and $369 million in capital expenditure in 2009, said BP-Azerbaijan, operator of the project.

The project spent $152 million in operating expenditure and $471 million in capital expenditure in 2008, said the company.

According to the company, the project spent $35 million in operating expenditure and $87 million in capital expenditure during the first quarter.

Four wells at Shah Deniz produce 22 million cubic meters of gas per day. Shah Deniz Phase 2 is expected to achieve a landmark of 30 billion cubic meters per annum.
Shah Deniz participating interests are: BP (operator â€“ 25.5%), StatoilHydro (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).