The Shah Deniz Compression (SDC) project is set to deliver an additional 50 billion cubic meters of natural gas and 25 million barrels of condensate over its lifetime, according to S&P Global Ratings, as reported by Report.
The consortium reached a final investment decision on the $2.9 billion initiative in June 2025.
S&P forecasts SOCAR’s standalone production to remain stable in 2025 at 7–7.5 million tons of oil and 7–8.5 billion cubic meters of gas, roughly matching 2024 output of 7.5 million tons of oil and 7.7 billion cubic meters of gas.
As Azerbaijan’s fully state-owned integrated energy company, SOCAR operates across exploration, production, refining, and marketing, with assets in Azerbaijan, Türkiye, Georgia, Ukraine, Romania, and Switzerland. It holds significant stakes in major projects, including 31.65% in the Azeri–Chirag–Gunashli (ACG) field (expected 16.8 million tons of oil and 13.6 billion cubic meters of associated gas in 2024) and key export pipelines such as Baku–Tbilisi–Ceyhan (32.97%).
Through the Southern Gas Corridor (49% SOCAR, 51% government), the company also owns 16% of Shah Deniz, 21.02% of the South Caucasus Pipeline, and 51% of TANAP. SOCAR controls 51% of Türkiye’s Petkim petrochemical complex and the STAR refinery, while conducting global trading via SOCAR Trading.
The Shah Deniz field is advancing through two major expansions: the largely completed Shah Deniz 2 (adding 16 bcm/year, with 6 bcm to Türkiye and 10 bcm to Southern Europe via TAP, operational since November 2020) and the upcoming SDC compression project.
https://report.az/en/energy/s-p-shah-deniz-compression-project-to-increase-gas-production-by-50bcm