Baku, Azerbaijan, Apr. 8
By Anvar Mammadov - Trend:
Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project of development of the country's Shah Deniz gas and condensate field from 2007 to Apr. 1, 2016, totaled $2.483 billion, SOFAZ told Trend Apr. 8.
SOFAZ received $40 million from the Shah Deniz project in January-March 2016. Some $22 million of this volume was received in March.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The field's reserve is estimated at 1.2 trillion cubic meters of gas.
The shareholders in the contract are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NIOC (10 percent) and TPAO (19 percent).
The assets of SOFAZ have decreased by 9.5 percent compared to 2014 and stood at $33.57 billion as of Jan. 1, 2016.
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