SOFAZ expected to receive $7.734B from ACG and Shahdeniz projects

Baku. 3 January. REPORT.AZ/ The State Oil Fund of Azerbaijan (SOFAZ) is expected to receive a total of $7.734 billion from sales of profit oil from the Azeri-Chirag-Gunashli (ACG) block and profitable gas from the Shah Deniz gas condensate field in 2019, Report informs citing the "Opinion on SOFAZ budget for 2019" by the Chamber of Accounts.

Of this, $6.790 billion is expected to come from ACG and $944 million Shahdeniz.

According to PSA (Production Sharing Agreement), the receipts from exploited fields are expected to be as follows:

- $2.38 million from Kursangi-Garabagli fields;

- $5.70 million from Surakhanı-Garachukhur fields;

- $2.99 million from Zigh-Hovsan fields;

- $0.02 million from Muradkhanli-Jafarli-Zardab fields;

- $1.43 million from Neftchala-Khilli fields;

- $3.69 million from Mishovdag-Kalamaddin fields;

- $7.04 million from Kurovdag field;

- $9.54 million from Balakhany-Sabunchu-Ramana and Kurdakhani fields;

- $8.69 million from fields of Binagadi block;

- $0.26 million from Gum-Deniz and Bahar fields.

So, SOFAZ is expected to receive $7,775.7 million or AZN 13,218,752,600 from sales of profit oil and gas in 2019, up AZN 2,188,800,000 or 19.8% from 2017, down AZN 88.7 million or 0.7% from forecast for 2018, AZN 3,668,100,000 or 21.7% from expected performance.