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Azerbaijan's SOFAZ sees decline in revenues from Azeri–Chirag–Gunashli field

Oil&Gas Materials 8 February 2023 16:56 (UTC +04:00)
Azerbaijan's SOFAZ sees decline in revenues from Azeri–Chirag–Gunashli field
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, February 8. The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the Azeri–Chirag–Gunashli (ACG) field in the Azerbaijani sector of the Caspian Sea totaled $625.074 billion in January 2023, SOFAZ told Trend.

Thus, SOFAZ's ACG revenues decreased by 8.5 percent or $63.04 million compared to January 2022 ($683.114 million).

In 2022, the Fund's income from the block of ACG fields amounted to $9.889 billion (an increase of 65.7 percent or $3.921 billion).

Meanwhile, oil production from the Azeri-Chirag-Gunashli field settled at 20.4 million tons in 2022.

ACG participating interests are as follows: bp (30.37 percent), SOCAR (25 percent), MOL (9.57 percent), INPEX (9.31 percent), Equinor (7.27 percent), ExxonMobil (6.79 percent), TPAO (5.73 percent), ITOCHU (3.65 percent), and ONGC Videsh Limited (2.31 percent).

BP Exploration (Caspian Sea) Limited is the operator of the ACG Production Sharing Agreement (PSA).

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