Shahdeniz capex to reach $1,340 million

Baku, March 28 (AzerTAc). During 2011, Shah Deniz project spent $190.7 million in operating expenditure and $674.9 million in capital expenditure. In 2012, BP-Azerbaijan is planning to spend $211.5 million in operating expenditure and $1,340 million in capital expenditure on Shah Deniz activities. In 2011, the field produced about 6.67 billion cubic meters (more than 235 billion cubic feet) of gas and 1.8 million tonnes (14 million barrels) of condensate or about 18.3 million cubic meters of gas per day (645 million standard cubic feet per day) and about 38,300 barrels of condensate per day. Since the start of Shah Deniz production in late 2006 till the end of 2011 29,902 million standard cubic meters (1,056 billion standard cubic feet) of Shah Deniz gas, and 63.7 million barrels (8 million tonnes) of Shah Deniz condensate was exported to the markets. Production is expected to increase as new platform-drilled wells are brought on stream over the next few years. Plateau production from Stage 1 is currently expected to be approximately 9 billion cubic meters of gas per annum and approximately 50,000 b/d of condensate. Shah Deniz participating interests are: BP (operator – 25.5%), Statoil (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).