SOFAZ receives next bonus payment from ACG Agreement

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) received $450 million in the seventh bonus payment from the new agreement signed with foreign investors working at the Azeri-Chirag-Gunashli group of oil fields, located in the Azerbaijani sector of the Caspian Sea, Report informs.

According to contract, foreign investors will pay an overall bonus of $3.6 billion to SOFAZ.

The next final bonus payment is expected to be made in January 2025.

ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), and ONGCVidesh (2.31%).