BAKU, Azerbaijan, November 2. bp and its co-venturers allocated around $1.738 billion in operating expenditure and around $653 million in capital expenditure on Shah Deniz activities during the first three quarters of 2023, a source at bp told Trend.
According to the company the majority of this spending was associated with the Shah Deniz 2 project.
As such, compared to the reporting period of the previous year, operating expenditure on Shah Deniz activities slightly decreased by 2 percent ($1.772 billion over the first three quarters of 2022).
However, capital expenditure on Shah Deniz in the first three quarters of 2023 more than doubled, compared to around $314 million spent over the same period of 2022.
"During the third quarter, the Shah Deniz field continued to provide gas to markets in Azerbaijan (to Azerkontrakt), Georgia (to GOGC), Türkiye (to BOTAS), BTC in multiple locations and to buyers in Europe," bp added.
Shah Deniz participating interests are: bp (operator – 29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).