BAKU, Azerbaijan, September 6. SOFAZ, the state oil fund of Azerbaijan, generated $1.183 billion in revenue from the sale of Shah Deniz gas and condensate during the period from January to August 2023, compared to $1.148 billion in the corresponding period of 2022, Trend reports via the Fund.
Specifically, the income from the sale of Shah Deniz condensate reached $259.554 million in the first nine months of this year, marking a decrease from $328.567 million during the same period in 2022.
In summary, SOFAZ's revenues from Shah Deniz saw a 3.05 percent year-on-year increase, while revenues from condensate sales decreased by 21 percent.
The latest data of bp reveals that in the first half of 2023, the Shah Deniz field produced about 13 billion standard cubic metres of gas and more than 2 million tonnes (about 18 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms, remaining unchanged year-on-year.
The existing Shah Deniz facilities’ production capacity is currently about 72.6 million standard cubic metres of gas per day or approximately 26.5 billion standard cubic metres per year.
In the first half of 2023, bp and its co-venturers spent around $1,208 million in operating expenditure and around $408 million in capital expenditure on Shah Deniz activities, the majority of which was associated with the Shah Deniz 2 project.
Shah Deniz participating interests are: bp (operator – 29.99%), SGC (21.02%), LUKOIL (19.99%), TPAO (19.00%) and NICO (10.00%).
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