Azerbaijan’s Revenues from ACG and Shah Deniz Decrease by Two Times

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Proceeds to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil and gas from the Azeri-Chirag-Gunashli (ACG) block and the Shah Deniz field in January-July 2020 amounted to $ 2 billion 700.5 million.

At the same time, in January-July 2020, SOFAZ’s revenues from the sale of Azerbaijan’s profitable oil from the ACG block amounted to $ 2 billion 485 million, SOFAZ reports.

According to the Fund, SOFAZ’s total revenues from the sale of profitable gas and condensate produced from the Shah Deniz field in January-July 2020 amounted to $ 215.5 million, including revenue from the sale of condensate in the specified period that amounted to $ 149 million, and revenue from the sale of gas that was $ 66.5 million.

As reported, in January-July 2019, SOFAZ revenues from the sale of profitable oil and gas within the ACG and Shah Deniz projects amounted to $ 5 billion 357 million.

Thus, for 7 months of 2020, these incomes decreased by 1.98 times.