14:40 - 23.07.2026

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July 23, Fineko/abc.az. For Jan-Jun 2026, the State Oil Fund of Azerbaijan earned 437.1 million manats (just over $257.1 million) from development of Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea.

According to SOFAZ, the figure is 13.8 million manats (just over $8.1 million), or 3.3% more compared with Jan-Jun 2025.

The Shah Deniz PSA was signed on June 4, 1996, and ratified on October 17, 1996. Located 70 km southeast of Baku, the field was discovered in 1999.

Under the documents signed in Baku on December 17, 2013, the term of the PSA agreement for development of Shah Deniz field was extended from 2036 to 2046.

Project participants include BP (operator – 29.99%), Lukoil (19.99%), TPAO (19%), Southern Gas Corridor (16.02%), NICO (10%), and MVM (5%).