BAKU, Azerbaijan, May 5. Revenues of Azerbaijan's state oil fund (SOFAZ) from the sale of gas and condensate from the Shah Deniz field from January 1, 2022 to May 1, 2022 are estimated at $405.475 million, including $96.995 million from the sale of condensate, Trend reports referring to the Fund.
SOFAZ's revenues from the sale of gas and condensate from the Shah Deniz field increased by 9.6 times compared to the same period in 2021, when this figure stood at $42.352 million.
In the first three months of 2022, the Shah Deniz field produced more than 6 billion standard cubic metres (bscm) of gas and more than 1 million tonnes (more than 9 million barrels) of condensate in total from the Shah Deniz Alpha and Shah Deniz Bravo platforms, as compared to 5.1 billion standard cubic metres (bcm) of gas and around 1 million tonnes (7.8 million barrels) of condensate in Q1 2021. As such, the field’s gas production rose by 17.6 percent year-on-year.
Shah Deniz participating interests are: bp (operator – 29.99 percent), LUKOIL (19.99 percent), TPAO (19 percent), SOCAR (14.35 percent), NICO (10 percent) and SGC (6.67 percent).
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