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Shah Deniz Gas Output Falls One-Fifth On Temporary Well Shutdown

Date : 11/26/2012 @ 8:05PM
Source : Dow Jones News
Stock : BP (BP)
Quote : 49.04  0.01 (0.02%) @ 5:04PM
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Shah Deniz Gas Output Falls One-Fifth On Temporary Well Shutdown

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By Aida Sultanova


BAKU, Azerbaijan--Daily natural gas output at Azerbaijan's Shah Deniz field, which is led by BP PLC (BP), has fallen by almost one-fifth after production was suspended at one well for technical reasons, a senior executive from national oil company SOCAR said Monday.

Work is being carried out to fix the problem at the well, and it will soon be brought back on line, SOCAR Deputy Chief Executive Khoshbakht Yusifzadeh told reporters. Five wells at the field are currently producing 23 million cubic meters per day, compared to 28 million when all six wells are working, he said.

The stoppage isn't affecting gas exports, Mr. Yusifzadeh said.

Shah Deniz is being developed by a BP-led consortium also including SOCAR, Norway's Statoil ASA (STO), Russia's Lukoil Holdings (LKOH.RS) and France's Total S.A. (TOT).

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