Baku, Azerbaijan, Oct. 3
By Azad Hasanli - Trend:
From early 2001 and until October 1, 2018, the State Oil Fund of Azerbaijan (SOFAZ) received $135.887 billion as part of the project to develop the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, a source in SOFAZ told Trend Oct. 3.
“In January-September 2018, SOFAZ received $7.401 billion within the ACG project,” said the source.
The contract for developing the ACG field was signed in 1994. A ceremony to sign a new contract on development of the ACG block of oil and gas fields was held in Baku Sept. 14, 2017.
The new ACG participating interests are as follows: BP - 30.37 percent; AzACG (SOCAR) - 25 percent; Chevron - 9.57 percent; INPEX - 9.31 percent; Statoil - 7.27 percent; ExxonMobil - 6.79 percent; TP - 5.73 percent; ITOCHU - 3.65 percent; ONGC Videsh Limited (OVL) - 2.31 percent.
---
Follow the author on Twitter: @AzadHasanli