BP outlook: Gas production at Shah Deniz to soar by 8% this year

BP outlook: Gas production at Shah Deniz to soar by 8% this year
# 31 August 2009 11:00 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Shah Deniz Phase 1 gas production is predicted to reach a landmark of 18.1 billion standard cubic meters (bscm) at this yearend from the start-up of production, UK supermajor BP said in a report.

Discovered in 1999, Shah Deniz, BP’s largest operated discovery since Prudhoe Bay, is a gas and condensate development in the Azerbaijan sector of the Caspian Sea with gas exports to foreign countries. It is located 70km offshore Azerbaijan beneath water depths ranging from 50-600 metres.

According to the report, with 7.1 bscm of gas produced in 2008 alone, in total 10.4 bscm of gas came from Shah Deniz to end 2008 from the start of production on November 24, 2006.

The outlook for 2009 is around 7.7 bscm of gas, up 8.4% from a year ago, said the report.

Moreover, BP Azerbaijan plans to produce 1.9 million tonnes per annum (mmtpa) in 2009.

“Condensate production was 1.8 mmtpa in 2008. In total 2.62 million tonnes of condensate was produced to end 2008 from the start of production”, said the report.


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