Shah Deniz sees sharp decline in capital expenditure 

For the January-to-March period of 2022, Shah Deniz spent around $759 million in operating expenditure and around $88 million in capital expenditure, the majority of which was associated with the Shah Deniz 2 project, bp Azerbaijan told Report.

Compared to the previous year, the operating expenditure went up $71 million or 10.32%, while the capital expenditure dropped by $93 million or 2.06 times.
The agreement on exploration, development and shared production of the promising Shah Deniz areas was signed on June 4, 1996. The production sharing agreement was ratified on October 17, 1996.

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%).