In the first half of 2022, Shah Deniz spent around $1,260 million in operating expenditure and around $186 million in capital expenditure, the majority of which was associated with the Shah Deniz 2 project, citing BP-Azerbaijan's business update on the results of the first half of 2022.
Compared to 2022, operating expenditures increased by 10.5%, while capital expenditures decreased by 49.2%.
According to bp, during the first half of 2022, the Shah Deniz field continued to provide deliveries of gas to markets in Azerbaijan (to Azerkontrakt), Georgia (to GOGC), and Turkiye (to BOTAS), to the BTC Company in multiple locations and to buyers in Europe.
"In the first half of the year, the field produced about 13 billion standard cubic metres (bscm) of gas and more than 2 million tons (more than 18 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms," reads the business update.
This is 30% and 5.3% (19.2%) more, respectively, compared to the same period of 2022.
The existing Shah Deniz facilities' production capacity is currently about 70 million standard cubic metres of gas per day or more than 25 bcma.
According to the documents signed in Baku on December 17, 2013, the term of the PSA agreement on the development of the Shah Deniz field was extended from 2036 to 2046.
Shah Deniz participating interests are: bp (operator – 29.99%), LUKOIL (19.99%), TPAO (19.00%), SOCAR (14.35%), NICO (10.00%) and SGC (6.67%).