SOFAZ’s ACG revenues rise 1.2% in first half

The State Oil Fund of Azerbaijan (SOFAZ) received 4.4273 billion manats ($2.6 billion) in revenue from the Azeri-Chirag-Gunashli (ACG) oil field in January-June, up 1.2% from 4.3749 billion manats in the same period a year earlier.

Overall, SOFAZ’s revenue from oil and gas agreements totaled 5.7432 billion manats in the first half of the year, an increase of 15.9% year-on-year. Revenue from the sale of profit oil and gas amounted to 4.9743 billion manats, while bonus and transit payments totaled 765.3 million manats, and acreage fees reached 3.6 million manats.

N. Tebrizli