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Azerbaijan's Shah Deniz field revenue shows modest y-o-y decrease

Oil&Gas Materials 6 October 2023 16:36 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, October 6. The State Oil Fund of Azerbaijan (SOFAZ) has reported that its income from the sale of gas and condensate from the Shah Deniz field during the first 9 months of 2023 reached $1.18 billion, compared to $1.2 billion for the same period in 2022, Trend reports.

This represents a modest 2.2 percent year-on-year decrease in revenue from the field.

SOFAZ further disclosed that it received $259.554 million from the sale of Shah Deniz condensate, in contrast to $328.567 million in the first 9 months of the previous year, marking a 21 percent decrease.

The current production capacity of Shah Deniz's existing facilities stands at approximately 74 million standard cubic meters of gas per day, equivalent to about 27 billion cubic meters annually.

Key stakeholders in Shah Deniz include bp (operator - 29.99%), LUKOIL (19.99%), TPAO (19.00%), SOCAR (14.35%), NICO (10.00%), and SGC (6.67%).

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