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Shah Deniz produces 1.84 bcm of gas in Q1

17 May 2011 12:44 (UTC +04:00)

Baku. Ali Ahmedov â€“ APA-Economics. During the first quarter of 2011 the Shah Deniz field produced about 1.84 billion cubic meters (more than 64.8 billion cubic feet) of gas and 0.4 million tonnes (3.1 million barrels) of condensate.

According to BP, about 20.4 million cubic meters of gas per day (725 million standard cubic feet per day) and about 34,400 barrels of condensate per day were extracted during the same period.

Since the start of Shah Deniz production in late 2006 till the end of the first quarter of 2011 about 52.9 million barrels (about 6.7 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 approximately 9 billion cubic meters of gas per annum and approximately 50,000 b/d of condensate.

In the first quarter of 2011 Shah Deniz spent $ 47.9 million in operating expenditure and $125.8 million in capital expenditure.

For the full year, we are planning to spend $169.9 million in operating expenditure and $791.6 million in capital expenditure on Shah Deniz activities.