BAKU, Azerbaijan, June 11. The budget receipts of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of Azeri-Chirag-Gunashli (ACG) field's crude oil exceeded the budgeted figure by 98.9 percent in 2021, the Chamber of Accounts of the Republic of Azerbaijan told Trend.
The profit from the ACG crude oil sales amounted to $5.9 billion, while the budgeted indicator totaled nearly $3 billion.
"Furthermore, the revenues from the sale of the Shah Deniz field's condensate made up $302.8 million, from natural gas – $581.9 million, while from other fields of the country – $62.3 million. Meanwhile, according to the agreement protocol, some $81.3 million was directed to the SOFAZ budget," the chamber stated.
In addition, the Fund's fiscal revenues from the sale of oil and gas resources surpassed $6.99 billion.
In 2021, crude oil prices in the SOFAZ budget was set at $40, whereas the average price per barrel reached $65.4.