SOFAZ obtains over $2.6B in revenues from ACG

Agshin Rafigoglu
Author

In the first half of 2025, the State Oil Fund of Azerbaijan (SOFAZ) received more than $2.604 billion (over 4.427 billion manats) in revenues from the Azeri-Chirag-Gunashli block of fields in the Azerbaijani sector of the Caspian Sea, Report informs, citing the fund.

Compared to the corresponding period in 2024, this is an increase of 13.3% or $401 million.

ACG is the largest oil field block in Azerbaijan. The first production sharing agreement for the development of the field block was signed on September 20, 1994. On September 14, 2017, a new agreement was signed for the joint operation of these fields and the distribution of production shares. This agreement provides for the development of the fields until the end of 2049.

In ACG, BP (30.37%), SOCAR (31.655%), MOL Group (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.925%) are shareholders.

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