BAKU, Azerbaijan, July 5. The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of gas and condensate from the Shah Deniz field in the first half of 2023 amounted to $1billion compared to $633.2 million for the same period in 2022, Trend reports.
According to SOFAZ, the fund received $210.8 million from the sale of condensate from the Shah Deniz field compared to $219.3 million in the first half of last year.
Thus, the fund's revenues from the sale of the field's resources increased by more than 41 percent year-on-year.
According to the latest bp data, about 7 billion standard cubic meters of gas and more than 1 million tons (about 9 million barrels) of condensate were extracted from the Shah Deniz Alpha and Shah Deniz Bravo platforms at the Shah Deniz field in just the first three months of 2023.
Gas production at the field for the same period in 2022 amounted to 6 billion cubic meters. Thus, the volume of gas production increased by 16.7 percent year-on-year, while the volume of condensate production remained unchanged.
The production capacity of the existing facilities at the Shah Deniz field currently amounts to about 74 million standard cubic meters of gas per day, or about 27 billion cubic meters per year.
Stakes in the Shah Deniz field: bp (operator – 29.99 percent), LUKOIL (19.99 percent), TPAO (19.00 percent), SOCAR (14.35 percent), NICO (10.00 percent) and SGC (6.67 percent).