In quarter, 1, 2015 extraction of natural gas on the Shah Deniz offshore gas condensate field totaled 2.6 billion cub.m., reads the quarterly report of BP-Azerbaijan company (operator of the Shah Deniz development).
From January to March 2014 BP and partners of the Shah Deniz field extracted 2.32 billion cub.m. of gas. Therefore, in quarter 1, 2014 gas extraction on the Shah Deniz field increased by 12.1%.
During this period 600,000 tons of condensate has been extracted on the Shah Deniz field. The volume of condensate production remained stable, without any changes.
Maximum capacity of the existing production system (the platform, underwater transport infrastructure as well as gas processing system on the Sangachal terminal) on the field is 29.5 million cub.m. of gas a day.
In quarter 1, 2015 total volume of expenses for the Shah Deniz project reached $1.2 billion (growth by 32.6%), of which operation costs totaled $0.1 billion (in quarter 1, 2014 – $0.12 billion) and capital costs – $1.1 billion ($0,785 billion).
At present gas is extracted on the Shah Deniz field within the Phase 1project. As Turan found out from the governmental sources of Azerbaijan, about $8.4 billion was invested into the project from 2003 till 2015.
The contract for the Shah Deniz field development was signed on June 4, 1996 in Baku and ratified by the Milli Mejlis on October 17, 1996. The Shah Deniz project partners include BP (28.8%), TPAO (19%), SOCAR (16.7%), Petronas (15.5%) , LUKoil (10%) and NICO (10%).
