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Shahdeniz to produce 7.6 bcm of gas this year

30 November 2010 11:26 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. During the first three quarters of 2010 the field produced more than 5.3 billion cubic meters (more than 188 billion cubic feet) of gas and 1.4 million tonnes (11.5 million barrels) of condensate or more than 29 million cubic meters of gas per day ( 690 million standard cubic feet per day) and about 41,900 barrels of condensate per day.
For the full year itâ€™s planned to produce 7.6 billion cubic meters (around 269 billion cubic feet) of gas and more than 2 million tonnes (around 16 million barrels) of condensate.
Since the start of Shah Deniz production in late 2006 till the end of September 2010 about 46 million barrels (about 5.8 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 8.6 billion cubic meters of gas per annum and approximately 45,000 b/d of condensate.
During the first three quarters Shah Deniz spent $ 121 million in operating expenditure and $251.1 million in capital expenditure.
For the full year we are planning to spend $177.8 million in operating expenditure and $604.8 million in capital expenditure on Shah Deniz activities.
Shah Deniz participating interests are: BP (operator â€“ 25.5%), Statoil (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).