SOFAZ sees 90% growth in revenues from ACG

From January through September 2022, the State Oil Fund of Azerbaijan (SOFAZ) received $7,528 million in revenues from the Azeri-Chirag-Gunashli block of fields in the Azerbaijani sector of the Caspian Sea, up $3,561.2 million or 89.9% from the previous year, Report informs, citing the Fund.

The revenues from the ACG block of fields since it became operational in 2001 totaled $158.658 billion.

The ACG shareholders are BP (30.37%), SOCAR (25%), MOL Group (9.57% (replaced Chevron on April 16, 2020)), INPEX (9.31%), Equinor ”(7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.31%).