BP increases gas production in Shah Deniz field

In the first half of 2024, the BP-Azerbaijan company produced 14 billion cubic meters of gas from the Shah Deniz field, which is 7.7% more year-on-year, Report informs, citing the company.

During the mentioned period, approximately 18 million barrels of condensate (more than 2 million tons) were produced from the Shah Deniz field, which remained unchanged compared to the same period last year.

"Currently, the production capacity of the field is about 80.7 million cubic meters per day or about 29.5 billion cubic meters per year," the company said.

In the first half of 2024, the expenses of the Shah Deniz consortium for the development of the field amounted to $1.66 billion (2.6% more). At the same time, the operating costs of the project exceeded $1.25 billion, and the capital costs exceeded $407 million. The main part of the expenses fell on the share of the works carried out within phase 2 of Shah Deniz’s development.

The company also said that during the reporting period, an average of 63.1 million cubic meters of gas was transported through the South Caucasus Pipeline daily (60.7 million cubic meters per day in January-June 2023). In January-June 2024, operating costs of the South Caucasus Pipeline amounted to $37.3 million, while capital costs amounted to $8 million.