OREANDA-NEWS. March 4, 2009. The Shah Deniz Project partners (Shah Deniz gas condensate field is located in the Azerbaijani sector of the Caspian Sea) have increased daily production.

BP Azerbaijan (Project technical operator) informs that currently V operating well is being drilled on the field.

Gas production on the field totaled 800 million cu feet of gas (24 million cu m) a day and 47,000 barrels of condensate.

In 2008 gas production on the field totaled 22 million cu m of gas and 45,000 barrels of condensate. In 2008 it was produced 7.2 bn cu m of gas and 15.006 million barrels (2.03 million tons) of condensate.

For comparison: production of natural gas on 27 July 2008 totaled 826.6 million cubic feet (24.798 million cu m) and condensate 48,800 barrels.

Last year production was conducted from four producing wells.

At the end of 2007 production was increased from gas 500 million up to almost 600 million cubic feet a day and production of condensate from 30,000 up to 36,500 bpd.

Within Phase 1 of Shah Deniz Project with production of more than 8 bn cu m a year Azerbaijan will be delivered 1.5 bn cu m, Turkey 6.6 bn cu m and Georgia 300 million cu m of gas. Within Phase 2 Shah Deniz production is to grow up to 12 bn cu m a year and be brought up to 20 bn cu m a year by 2015. The 2008 production target on the field was 8 bn cu m of gas.

The contract for Shah Deniz field development was signed in Baku on June 4, 1996 and ratified by Milli Majlis on October 17 of the same year. The Shah Deniz project partners are: BP (operator: 25.5%, Statoil (25.5%), SOCAR (10%), LUKoil (10%), NICO (10%), TotalFinaElf (10%), and TPAO (9%).