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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SOFAZ earns $118 bln from ACG, Shah Deniz projects

Posted on 05 November 2015

Azerbaijan’s state oil fund SOFAZ has earned $116.01 billion from 2001 to November 1, 2015 through the development of the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea. SOFAZ told Trend on November 1 that the Fund gained $5.86 billion in January-October, 2015 within the framework of ACG project.
The ACG fields have been active since 1997. Its production first started at the Chirag part of the block. It was followed by Azeri Project; Central Azeri in February 2005, West Azeri in December 2005, and East Azeri in October 2006. The Deepwater Gunashli section launched production in April 2008………………………………………..Full Article: Source


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