BAKU, Azerbaijan, August 7. The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of gas and condensate from the Shah Deniz field in the first seven months of 2023 amounted to $1.14 billion compared to $1.07 million for the same period in 2022, Trend reports.
According to SOFAZ, the fund collected $259.6 million from the sale of condensate from the Shah Deniz field, up from $252.7 million in the previous year's reporting period.
As a result, the fund's annual revenue from the sale of the field's resources climbed by 6.43 percent ($69 million).
According to the latest bp data, about 13 billion standard cubic meters of gas and more than two million tons (about 18 million barrels) of condensate were extracted from the Shah Deniz Alpha and Shah Deniz Bravo platforms at the Shah Deniz field in just the first three months of 2023.
The production capacity of the existing facilities at the Shah Deniz field currently amounts to about 74 million standard cubic meters of gas per day, or about 27 billion cubic meters per year.
Stakes in the Shah Deniz field: bp (operator – 29.99 percent), LUKOIL (19.99 percent), TPAO (19 percent), SOCAR (14.35 percent), NICO (10 percent) and SGC (6.67 percent).