BP: Azerbaijan set to make final investment decision on Shah Deniz Compression project by June

The head of BP Azerbaijan's press service, Tamam Bayatly, has stated that the final investment decision for the Shah Deniz Compression (SDC) unmanned electric compressor platform is expected to be made in June of this year.

"It is anticipated that the final investment decision on the Shah Deniz Compression project will be made at the latest by the end of the second quarter of this year. As far as I know, it is planned for June," Bayatly said in a statement to the media on March 5, Caliber.Az reports.

She said that the environmental and socio-economic impact assessment document for the project has already been submitted, and at this stage, it remains for government approval.

Bayatly noted that government approval also means that the project's implementation phase has already begun, but the final investment decision must be made before the implementation phase starts.

Additionally, the BP official announced that after the final investment decision is made, the process of announcing tenders and selecting contractors will begin.

Let's note that Shah Deniz Compression platform is a significant development in Azerbaijan's energy sector. The platform, located in the Caspian Sea, is part of the Shah Deniz field, one of the largest gas fields in Azerbaijan. The unmanned design of the platform reflects a push toward more efficient, environmentally friendly, and cost-effective operations in energy production.

The compression project aims to increase the field's production capacity, ensuring a steady flow of gas to Europe through pipelines like the Southern Gas Corridor. This project is significant in terms of energy security for the European market, especially as countries seek to diversify away from Russian energy supplies.

The use of electric power instead of traditional gas-powered compressors reduces emissions and enhances the overall sustainability of the operation. The platform also serves as an example of Azerbaijan’s growing capabilities in offshore energy production.

By Khagan Isayev