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Share Price: 506.20
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CORRECTED-UPDATE 1-BP suspends Shah Deniz platform for planned maintenance

Tue, 04th Aug 2015 10:48

(In AUG 3 story, removes reference in paragraph 2 to Statoil,which no longer has stake)

BAKU, Aug 3 (Reuters) - British oil major BP hassuspended operations on the Shah Deniz platform in the CaspianSea as well as the Shah Deniz facility inside the Sangachalterminal for planned maintenance from Aug. 2, the company saidon Monday

Shah Deniz, Azerbaijan's biggest gas field, is beingdeveloped by partners including BP, Azeri state energy companySOCAR and others.

"In accordance with the plan, production from the Shah Denizplatform will be suspended on 2nd August for about 20 days toenable efficient maintenance, inspection and project work to beundertaken," field operator BP's Azerbaijan business said in astatement.

"This is a routine, planned programme and is part of normaloperations ... The shut-down is also included in the annualproduction forecast," it said.

Natural gas output from the offshore field rose to 2.6billion cubic metres (bcm) in the first quarter of this yearfrom 2.32 bcm in the same period of 2014. It produced 0.6million tonnes of condensate, the same as in the first quarterof last year.

Shah Deniz is estimated to contain 1.2-1.5 trillion cubicmetres of gas. Shah Deniz I has been pumping gas since 2006,while gas from its second stage is expected to reach Europe by2019-2020.

BP said on Monday that production from the main Azeri,Chirag and Guneshli (ACG) oilfields operated by BP as well asexport operations and loadings at ports of Ceyhan in Turkey andSupsa in Georgia would continue as normal. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;Editing by Pravin Char)

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9 May 2024 15:51

UK dividends calendar - next 7 days

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9 May 2024 13:53

IN BRIEF: IP Group joins USD111 million financing round for Hysata

IP Group PLC - invests in companies pursuing breakthrough science - Portfolio company Hysata Pty Ltd completes USD111.3 million series B funding round. Hysata is developing electrolysers to produce green hydrogen efficiently. It will use the fresh cash to advance product development and expand production capacity at its manufacturing facility in Wollongong, New South Wales, Australia, as it focuses on "reaching gigawatt scale manufacturing". The funding round, which Hysata calls "the largest series B in Australian clean tech history", is led by bp Ventures, part of oil major BP PLC, and private equity firm Templewater Ltd, a spin-off from Investec PLC.

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9 May 2024 10:26

Balfour Beatty says trades in line amid "progress" on pacts

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9 May 2024 09:53

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8 May 2024 13:19

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BP softens tone on 2030 oil output cut to reassure investors

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7 May 2024 17:30

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FTSE 100 up 1.2%, FTSE 250 adds 1.2%

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7 May 2024 16:32

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BP profit slides by 40% as refinery outage offsets higher output

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7 May 2024 09:09

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7 May 2024 08:51

TOP NEWS: BP keeps up pace of share buybacks despite profit decline

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7 May 2024 07:02

BP in $1.75bn buyback as Q1 profits fall on weaker prices, margins

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6 May 2024 15:01

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3 May 2024 13:47

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