Azerbaijan earned 6.56 bln USD on ACG and Shah Deniz projects in 2015

Fund received 6 258 mln USD from ACG and 302 mln USD from Shahdeniz

Baku. 2 November. REPORT.AZ/ In January-November 2015, the State Oil Fund of Azerbaijan (SOFAZ) received 6 560 mln USD from the sale of profit oil from block of fields "Azeri-Chirag-Guneshli" (ACG) and gas condensate field "Shah Deniz".

Report was told in SOFAZ, during the reporting period the fund received 6 258 mln USD from ACG block and 302 mln USD from the deposit "Shah Deniz".

Since 2001, total revenues from ACG was 116 409 mln USD and 2 422 mln USD from the "Shah Deniz" since 2007.

Agreement on development of deposits "Azeri", "Chirag", "Deepwater Gunashli" signed on September 20, 1994. Oil from ACG block of fields produced under the contract is exported to the world market via the Baku-Tbilisi-Ceyhan and Baku-Supsa.

The participants of the ACG project are the companies: BP (operator - 35,8%), SOCAR (11,6%), Chevron (11,3%), Inpex (11%), Statoil (8,6%), ExxonMobil (8%) , TPAO (6,8%), Itochu (4,3%), ONGC Videsh Ltd. (2.7%).

Agreement on development of gas condensate field "Shah Deniz" was signed on June 4, 1996.

Participants in the project are the companies: BP (operator - 28,8%), AzSD (10%), SGC Upstream (6,7%), Petronas (15,5%), LUKoil (10%), NİKO (10%) and TPAO (19%).Oil from the field "Shah Deniz" field supplied to Azerbaijan, Georgia and Turkey via the South Caucasus pipeline.

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