OREANDA-NEWS. February 26, 2010. BP Azerbaijan reports that this year capital expenditures on the field are going to grow up to USD 604.8 million from USD 289 million in 2009, while operating expenditures will reduce from USD 192 million to USD 117.8 million.

In 2009, operating expenditure on Shah Deniz Project totaled USD 784 million in the 4th quarter against USD 35 million in the 1st quarter, USD 39 million in the 2nd quarter and USD 40 million in 3rd quarter, while capital expenditure USD 34 million versus USD 87 million, USD 117 million and USD 51 million respectively.

Originally the partnership forecasted for 2009 reduction of capital expenditure with increase operating expenditure against their factual volume in 2008. However, it reconsidered its forecast for 2009: operating expenditure forecast was increased from USD 264 million up to USD 322 million while capital expenditure kept at the level of USD 369 million. Life showed that neither of the forecasts was implemented.

In 2008 the project spent USD 152 million in operating expenditure and USD 471 million in capital expenditure. For 2008 operating expenditure was planned at the level of USD 148 million and capital expenditure USD 496 million.

Shah Deniz project partners are: BP (operator – 25.5%), StatoilHydro (25.5%), SOCAR (10%), LUKOIL (10%), NICO (10%), Total (10%), and TPAO (9%).