SOFAZ sees over 31% decline in revenues from ACG

In January-June 2023, the State Oil Fund of Azerbaijan (SOFAZ) received $3.348 billion in revenues from the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea, down $1.523 billion, or 31.3%, from $4.871 billion in the same period of 2022, Report informs, citing the Fund.

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%).