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Azerbaijani SOFAZ made over $165 billion in revenues under "Contract of Century" - bp

Oil&Gas Materials 26 April 2023 16:01 (UTC +04:00)
Azerbaijani SOFAZ made over $165 billion in revenues under "Contract of Century" - bp
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, April 26. A total of 4.2 billion barrels of oil have been produced at the Azeri-Chirag-Gunashli (ACG) block of fields since the signing of the Contract of the Century, bp’s Vice President for the Caspian region, Communications and External Affairs Bakhtiyar Aslanbayli said, Trend reports.

Aslanbayli made the remark at the international scientific conference themed "Architect of Independent Azerbaijan", dedicated to the 100th anniversary of national leader Heydar Aliyev.

According to him, within the framework of this contract, the State Oil Fund of Azerbaijan (SOFAZ) raised funds in the amount of $167 billion.

"Indicators of production and attracted profits are of great importance for the growth and development of the economy, social and other spheres of Azerbaijan. Today eight platforms equipped with advanced technologies are operating in the Caspian Sea,” he noted.

The ninth platform will be completed in June this year, added the vice president.

ACG’s participating interests are: 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).

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