SOFAZ's revenues from ACG reduced by 38%

11:53 - 6.02.2024

February 6, Fineko/abc.az. The revenues of the State Oil Fund (SOFAZ) on Azeri-Chirag-Guneshli and Shah Deniz have been published.

ABC.AZ was informed at SOFAZ that revenue from ACG field in January amounted to $387.64 million (38% less versus January 2023).

So, during this period, the Fund received income from ACG for $625.07 million.

Oil production from this field has also declined. For example, according to BP's reports for the 3rd quarter of 2023, production fell by 12% against Q3 of 2022.

The cost of Shah Deniz field (gas & condensate) reached $45.39 million. In particular, the revenue from the sale of condensate at Shah Deniz field amounted to $15.75 million.