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During 2012, the Azerbaijani offshore gas condensate field Shah Deniz produced about 7.73 billion cubic metres (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 metres of gas per day and about 44,100 barrels of condensate per day.
During 2012, Shah Deniz spent $269 million in operating expenditure and $1,099 million in capital expenditure, the report says.
In 2013, it is planned to spend over $222 million in operating expenditure and about $2,660 million in capital expenditure on Shah Deniz activities.
Since late 2006 till the end of 2012, about 37.6 billion standard cubic metres of Shah Deniz gas, and 10.1 million tons (80 million barrels) of Shah Deniz condensate were exported to the markets, the report says.
Shah Deniz Stage 1 peak production is expected at nine billion cubic meters of gas and 50,000 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.
