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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Azerbaijan’s State Oil Fund reveals revenues from largest gas project

Posted on 05 November 2015

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for developing the Shah Deniz gas and condensate field in the Azerbaijani sector of the Caspian Sea totaled $2.4 billion from 2007 to Nov.1, 2015, SOFAZ told Trend Nov.3. SOFAZ said its revenues from the Shah Deniz project stood at $279 million in Jan.-Oct. 2015.
The contract for developing the Shah Deniz offshore field was signed on June 4, 1996. The field’s reserve is estimated at 1.2 trillion cubic meters of gas. The shareholders are: BP, operator (28.8 percent), AzSD (10 percent), SGC Upstream (6.7 percent), Petronas (15.5 percent), Lukoil (10 percent), NICO (10 percent) and TPAO (19 percent)………………………………………..Full Article: Source


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