BAKU, Azerbaijan, December 29. bp expects Azerbaijan’s Shah Deniz gas and condensate field to reach production peak of 26 billion cubic meters this year, Bakhtiyar Aslanbayli, bp's Vice President for the Caspian region, Communications and External Affairs, told a local TV channel, Trend reports.
“The production level will remain at peak in the subsequent years,” he explained.
Aslanbayli went on to add that the volume of production at Shah Deniz has increased in 2023 as compared to 2022.
“Meanwhile, the revenues from the field have declined as compared to 2022 when the prices were extremely high,” said bp’s vice president.
bp announced on January 23 the spud of a new exploration well (SDX-8) in the contract area under the agreement on the exploration, development and production sharing for the Shah Deniz prospective area in the Azerbaijan sector of the Caspian Sea.
The well was drilled with the Heydar Aliyev semi-submersible drilling rig, which was moved to the SDX-8 location in the eastern flank of the Shah Deniz field in December 2022.
If successful the well will provide a clearer understanding of producibility and resource potential of the deeper horizons beneath the currently producing reservoirs in the eastern flank.
Shah Deniz participating interests are: bp (operator – 29.99%),
SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).
The proven reserves of Shah Deniz are estimated at 1.2 trillion
cubic meters of gas and 240 million tons of condensate.
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