Shahdeniz cuts capital expenditures by 36% in Q1

In the first quarter of 2019, Shah Deniz spent $191 million in operating expenditure and more than $267 million in capital expenditure, respectively up $68 million or 55.3% and down $148 million or 35.7% from previous year, Report informs citing BP-Azerbaijan.

The majority of capital expenditure was associated with the Shah Deniz 2 project.

Shah Deniz participating interests are: BP (operator – 28.8 per cent), TPAO (19.0 per cent), AzSD (10.0 per cent), SGC Upstream (6.7 per cent), PETRONAS (15.5 per cent), LUKOIL (10.0 per cent) and NICO (10.0 per cent).