BAKU, Azerbaijan, June 9
By Fidan Babayeva - Trend:
Azerbaijan's net income from the sale of hydrocarbons (besides expenses for transportation, banking, customs clearance, independent control, marketing and insurance, as well as income from investments or participation in the projects in which the State Oil Company of Azerbaijan is an investor or partner) reached 6.6 billion manat or $3.8 billion in 2020, Trend reports on June 9 referring to the Chamber of Accounts of Azerbaijan.
The mentioned figure is by 59.7 million manat ($35.1 million) or 0.9 percent less than in the approved budget of the State Oil Fund of Azerbaijan (SOFAZ) of last year.
Azerbaijan's net income from the sale of hydrocarbons in 2020 is by 8.02 million manat ($4.7 million) or 54.9 percent less than in 2019.
The production volume at the Azeri-Chirag-Gunashli (ACG) field reached 174.6 million barrels in 2020. The state budget received $3.5 billion from the sale of oil produced at ACG, which is by two percent more than the figure set in the budget ($3.4 billion).
The export price of crude oil was projected at $35 while the average price per barrel during the year was $38.5 in the SOFAZ budget for 2020.
Thus, the total revenues from the sale of oil and gas amounted to $3.9 billion or 6.6 billion manat last year, including $3.5 billion from ACG, $223.4 million from the sale of condensate from Shah Deniz, $70.5 million from the sale of gas from Shah Deniz field, $16.8 million from other fields.