Capital expenditure on Shah Deniz field surges in Q12024

Agshin Rafigoglu
Author

In the first quarter of 2024, BP and its co-venturers spent around $719 million in operating expenditure and around $201 million in capital expenditure on Shah Deniz activities, the majority of which was associated with the Shah Deniz 2 project, Report informs, citing BP-Azerbaijan.

During the reporting period, operating expenditure rose by $41 million, or 6.05%, while capital expenditure grew by $7 million, or 3.6%, compared to the corresponding period in 2023.

Shah Deniz participating interests are: BP (operator – 29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).

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