Baku, Azerbaijan, Aug. 16
By Maksim Tsurkov – Trend:
Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for developing the country’s Shah Deniz gas and condensate field from 2007 to Aug. 1, 2016 totaled $2.506 billion, SOFAZ told Trend Aug. 16.
SOFAZ received $64 million from Shah Deniz project in January-July 2016.
The revenues from the Shah Deniz project have been recorded since the start of commercial gas production at the field.
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).
As of July 1, 2016, SOFAZ’s assets increased by 4.6 percent and amounted to $35.1 billion as compared to $33.57 billion in early 2016.
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