Gas production from Shah Deniz field in 1Q25 remained at last year's level

BP-Azerbaijan produced 7 billion cubic meters of gas from the Shah Deniz field in January-March 2025, which corresponds to the indicator of January-March last year, Report informs, citing the company.

During the reporting period, about 8 million barrels of condensate (approximately 1 million tons) were also produced from the field. Compared to the indicator of the first quarter of 2024, there was no change.

"Currently, the field's production capacity is approximately 76.4 million cubic meters per day, or about 27.9 billion cubic meters per year," the company notes.

The Shah Deniz consortium's expenses in the first quarter of 2025 increased by 2.1% year-on-year to $939 million, including operational expenses of about $726 million (up 0.97%) and capital expenditures of $213 million (up 6%). The main volume of expenses was for work under Stage-2 of the field development.

As previously reported, in 2024, BP-Azerbaijan produced 28 billion cubic meters of gas (up 7.7%) and about 35 million barrels of condensate (at the level of 2023) from the Shah Deniz field.

The contract for the development of the Shah Deniz field was signed in 1996. The current shareholding is as follows: British BP plc (technical operator - 29.99%), LUKOIL (19.99%), Turkish TPAO (19%), Azerbaijani Cenub Qaz Dehlizi (16.02%), Iranian NICO (10%), Hungarian MVM - 5%.