Friday, 08 November 2019 13:56

Bp: Stable production growth is seen at Shah Deniz

During January-September 2019 bp-Azerbaijan produced 12.4 billion cubic meters at Shah Deniz field, which is 55% higher than the January-September figure of 2018. A total of 2.6 million tonnes of condensate (a 44.4% increase) was also produced on this field during January-September 2019, Caspian Energy News reports. “The present production capacity at Shah Deniz field now makes about 20 bcm per year or 56 million cubic meters per day”, bp said. 

According to the company, a total size of Shah Deniz project expenditures made $1.299billion within 9 months of 2019, which is 16.6% lower than the January-September figure of 2018. Maintenance expenditures made $481milion in 2019 while capital expenditures constituted $818million. The main volume of capital expenditures fell to the share of Phase II operations. 

Transportation along the South Caucasus pipeline (Baku-Tbilisi-Erzurum) averaged 28 million cubic meters per day during January-September 2019. Capital and maintenance expenditures of the South Caucasus Pipeline totaled $28million and $33million during the reporting period respectively. The government expects production at Shah Deniz field to reach 17.389 bcm in 2019. Gas production at Shah Deniz field (Stage I) is carried out by Alfa platform while Stage II production is carried out by Bravo platform.  

It is noteworthy that bp-Azerbaijan produced 11 billion 369 million cubic meters of gas at Shah Deniz field in 2018, which is 11.8% above the figure of 2017. 

“Production on Shah Deniz field totaled 11 billion 369 million cubic meters of gas (+11.8%) in 2018. Besides, 2 million 54 thousand tonnes of condensate (+7.8%) was produced at Shah Deniz field during the year under review. 

BP-Azerbaijan produced 10 billion 168.1 million cubic meters of gas on Shah Deniz field in 2017, which is 4.8% below the figure of 2016. 

According to the forecast of the Ministry of Energy of Azerbaijan, production at Shah Deniz field shall total 17 bllion 389 million cubic meters of gas in 2019. 

The contract on development of Shah Deniz field was signed in Baku on June 4, 1996 and ratified by Milli Mejlis on October 17 of the same year. Parties to Shah Deniz project are as follows: 

BP (operator, 28.8%), Petronas (15.5%), SOCAR (16.7%), LUKOIL (10%), NICO (10%), TPAO (19%).

Shareholders of Shah Deniz consortium signed a final investment decision on the second stage of development of this field on December 17, 2013. 

The cost of Stage II makes $23.9 billion. The annual production volume within the framework of the Stage II makes 16 bcm per year. Of this volume, 10 billion will flow to Europe, 6 billion to the western regions of Turkey. Gas supplies to Turkey via TANAP began on June 30 2018. Gas supply to Europe via TAP shall start in 2020.  

 

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