Azerbaijan to receive next bonus on new ACG agreement in late January

Baku. 3 January. REPORT.AZ/ In 2019, investors will pay $450.1 million or AZN 765.17 million in bonus on signing or fulfillment of oil and gas agreements, up AZN 762.77 million from 2017, equal to 2018 outlook, Report informs citing the "Opinion on SOFAZ budget for 2019" by the Chamber of Accounts.

Under Article 29.2 of the "Agreement on the joint development and production sharing for the Azeri, Chirag fields and the Deep Water Portion of the Gunashli Field in the Azerbaijani sector of the Caspian Sea" (ACG PSA) dated September 14, 2017, a total of $ 3.6 bln will be paid in 2018-2025. The  investors will pay the second part of the bonus amount - $ 450 mln or AZN 765 mln - on January 31, 2019.

Within the framework of the Production Sharing Agreement (PSA) on the "Shah Deniz" field, in 2019, investors will make bonus payments in the amount of $ 0.1 mln or 170,000 AZN to SOCAR or an authorized state body.