BAKU, Azerbaijan, March 5. The State Oil Fund of Azerbaijan (SOFAZ) has announced its revenues from the sale of gas and condensate from the Shah Deniz field from January 1 to March 1, 2024 amounted to $78.5 million, Trend reports via the fund.
The figure includes $15.7 million revenues from condensate sales.
In a similar period of 2023, SOFAZ's revenues from the sale of gas and condensate from the Shah Deniz field amounted to 534.7 million manat ($314.5 million), with condensate sales generating 58 million manat ($34 million).
Thus, revenues from the sale of gas and condensate decreased by 6.81 times, while condensate sales dropped by 3.69 times.
Notably, the gigantic Azerbaijani gas-condensate field Shah Deniz produced 26.2 billion cubic meters of gas in 2023.
The field production since the beginning of industrial development as of January 1, 2024, reached 209 billion cubic meters, of which 148.1 billion cubic meters are allocated for export.
The proven reserves of Shah Deniz are estimated at 1.2 trillion cubic meters of gas and 240 million tons of condensate.
Shah Deniz participating interests are: bp (operator – 29.99 percent), SGC (21.02 percent), LUKOIL (19.99 percent), TPAO (19 percent) and NICO (10 percent).