Production Resumes at Shah Deniz Alpha Platform
BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18.
This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
Currently, production and export operations from the Shah Deniz Alpha platform are being gradually ramped up, a process expected to take several more days.
"We continue to work closely with SOCAR and other partners, coordinating our plans and activities with them."
According to the gas export operator from Shah Deniz, Azerbaijan Gas Supply Company, the reduction in gas exports has decreased from 8.5 million cubic meters per day to 5 million cubic meters per day as of January 19-20. Full export volumes may be restored by the end of next week.
It is worth noting that under normal conditions, Shah Deniz produces 74-75 million cubic meters of gas per day from both production platforms, with more than half of this volume being exported to Europe.
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- Politics
- 19 January 2025 20:00
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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