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SOFAZ more than triples revenues from Shah Deniz
- 04 March, 2022
- 07:05
In January-February 2022, the revenues of the State Oil Fund of Azerbaijan (SOFAZ) stood at $227.557 million from the Shah Deniz field located in the Azerbaijani sector of the Caspian Sea, up $224.019 million or 64.3 times from the previous year, Report informs, citing the Fund.
The revenues from the condensate sale amounted to $22.172 million.
Since 2007, the total revenues from Shah Deniz gas and condensate sales have accounted for $4.779 billion.
The agreement on exploration, development, and shared production of the promising Shah Deniz areas was signed on June 4, 1996. The production sharing agreement was ratified on October 17, 1996.
The Shah Deniz shareholders: BP (operator - 29.99%), AzSD (14.35%), SGC Upstream (6.7%), LUKoil (19.99%), NICO (10%) and TPAO (19%).
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