Within the framework of the “Shah Deniz” project, production has not increased, but costs have increased by 12%

In the first half of 2023, BP-Azerbaijan produced 13 bcm of gas from the “Shah Deniz” field in the Azerbaijani sector of the Caspian Sea, which corresponds to the indicator of January-June 2022.

According to the company, approximately 18 million barrels of condensate (more than 2 million tons) were also produced from the “Shah Deniz” field, which also corresponds to the indicator of January-June last year.

Currently, the field’s production capacity is approximately 72.6 mcm per day or more than 26.5 bcm per year, the company reports.

In the first half of 2023, the costs of the “Shah Deniz” consortium as part of the development of this field amounted to $1 billion 616 million (an increase of 11.8%). At the same time, the operating costs of the project exceeded $ 1 billion 208 million, capital expenditures – $ 408 million.

The bulk of the costs fell on work within the “Stage-2” development of the “Shah Deniz” field.

The contract for the development of the “Shah Deniz” field was signed in Baku on June 4, 1996 and ratified by the Milli Majlis on October 17 of the same year. The shareholders of the project are: BP (operator – 29.99%), CJSC Cenub Qaz Dehlizi (21.02%), LUKOIL (19.99%), TPAO (19%) and NICO (10%).

Caspian Barrel