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SOFAZ received over $5.5B from development of ACG in Jan.-Nov. 2024
Energy
- 06 December, 2024
- 13:58
In January-November 2024, the State Oil Fund of Azerbaijan (SOFAZ) received an income of nearly $5.73 billion from the development of the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea, Report informs, citing SOFAZ.
This is $628.4 million or 9.9% less compared to the same period last year.
In January-November 2023, SOFAZ received an income of $6.35 billion from the development of the block of fields.
ACG is Azerbaijan's largest oil field block. The first production-sharing agreement for the development of the block of fields was signed on September 20, 1994.
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