In 2021, the State Oil Fund of Azerbaijan (SOFAZ) earned $ 884.793 million (3 times more than 2020) from the sale of gas and condensate from the Shah Deniz field in the Azerbaijani sector of the Caspian Sea, Report informs.
Of this, $ 302.817 million came from the sale of condensate, 1.35 times more than a year ago.
The total revenue from the sale of gas and condensate extracted from the Shah Deniz field since its inception in 2007 has amounted to $ 4.551 billion.
The agreement on exploration, development, and production sharing of the Shah Deniz field was signed on June 4, 1996. The Shah Deniz Production Sharing Agreement (PSA) was ratified on October 17, 1996. The field, located 70 km southeast of Baku, was discovered in 1999.
The shareholders are BP (operator - 28.8%), AzSD (10%), SGC Upstream (6.7%), LUKoil (25.5%), NICO (10%) and TPAO (19%).