CASPIAN OIL & GAS - Production at Azerbaijani Shah Deniz field rises

Production at Azerbaijani Shah Deniz field rises



The consortium of Azerbaijani Shah Deniz gas and condensate field development produced 5.4 billion cubic meters in the first half of the year, Natural Gas Europe reported citing Azerbaijani top energy official.

That figure indicates 3.8 percent growth year-on-year. Daily production hit a new record above 30 million cubic meters, according to the official who asked to remain anonymous.

He alo said that the current output was on target for the year as a whole.

Azerbaijan produced about 9.363 billion cubic meters of commercial gas in the first half of this year, down 8.8 percent year-on-year, of which BP-operated fields counted 71.6 percent, according to the source.

BP produced 6.71 billion cubic meters of commercial gas in the period, which was down by 590 million cubic meters on the same period last year.

BP had injected more gas into ACG to maintain oil output, which led to 652,000 barrels per day production, according to the source.

Most of the gas produced in Azerbaijan accounts for Shah Deniz field, the reserves of which are estimated at 1.2 trillion cubic meters.

BP is the operator of the development project of large Shah Deniz Azerbaijani field, and the company's participation share in it amounts to 28.8 percent.

A final investment decision was made on the Shah Deniz 2 field in Baku in 2013, envisaging producing additional 16 billion cubic meters of gas per year at the field.