Finance

Home page

Finance

Azerbaijan's Oil Fund's revenues from Shahdeniz increased by more than 63%

10 January 2023 17:27 (UTC +04:00)

In 2022, the revenues of the Oil Fund of the Republic of Azerbaijan (SORF) from the "Shahdeniz" gas-condensate field (from the sale of gas and condensate) amounted to USD 1 443 mln., which is 63,1% more in annual comparison, APA-Economics reports citing SOFAZ.

The revenues of the Fund from the "Shahdeniz" gas-condensate field (from 01.01.2022 to 01.01.2023), amounted to USD 328 567, which means an increase by 8,5%.

Notably, the agreement on the share distribution in Shahdeniz was signed in 1996 and is as follows: BP – 29,99% (operator), LUKOIL(19,99%), TPAO (19%), SOCAR(14,35%), NICO (10%) and SGC (6,67%).