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Azerbaijan receives $268.2 million from lucrative gas in 2010

Oil&Gas Materials 28 January 2011 12:06
Some $268.2 million of a total of 12.8 billion manat received by Azerbaijan in 2010 from lucrative oil and gas fell to gas from the Shah Deniz Field. The remaining amount fell to oil within PSA agreements, head of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov said on Thursday.
Azerbaijan receives $268.2 million from lucrative gas in 2010

Azerbaijan, Baku, Jan. 28 / Trend E. Ismailov /

Some $268.2 million of a total of 12.8 billion manat received by Azerbaijan in 2010 from lucrative oil and gas fell to gas from the Shah Deniz Field. The remaining amount fell to oil within PSA agreements, head of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov said on Thursday.

According to him, Azerbaijan has received low income from the contracts to develop the Binagadi, Surakhani, Absheron, Kursangi-Karabagli, Bahar and Gum Deniz fields this year.

The budget revenues of SOFAZ in 2010 reached 13.088 billion manat, while the budget expenditures constituted 6.386 billion manat, Movsumov said at a press conference on the organization's activity results in 2010.

According to him, the 2010 budget revenues and expenditures were executed to 144.9percent and 99.4 percent, respectively.

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