Capex On Azerbaijan's Shah Deniz Up By 42.6%

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 4. Energy major bp and its co-venturers spent approximately $2.002 billion in operating expenditure (opex) and $1.078 billion in capital expenditure (capex) on activities at the Shah Deniz gas field during the first three quarters of 2026, according to the company's latest performance report.

Operating expenditure rose 9% year-over-year from $1.836 billion in the same period of 2025, while capital expenditure posted a sharp 42.6% increase compared to the $756 million spent during the first nine months of 2025.

"During the third quarter, the Shah Deniz field continued to provide gas to markets in Azerbaijan (to SOCAR), Georgia (to GOGC), Türkiye (to BOTAS), Baku-Tbilisi-Ceyhan (BTC) in multiple locations and to buyers in Europe," bp said.

Reportedly, in the first nine months of the year, the field produced around 20 billion standard cubic metres of gas and about 3 million tonnes (around 21 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms.

The existing Shah Deniz facilities' production capacity is currently about 79 million standard cubic metres of gas per day or approximately 28.8 billion standard cubic metres per year.

Shah Deniz participating interests are: bp (operator – 29.99%), LUKOIL (19.99%), TPAO (19.00%), SGC (16.02%), NICO (10.00%) and MVM (5.00%).

MENAFN04112026000187011040ID1111913191