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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

SOFAZ reveals income from largest oil project

Posted on 19 August 2016

Revenues of Azerbaijan’s state oil fund SOFAZ from the project on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields totaled $119.779 billion from early 2001 to August 1, 2016, the Fund told Trend.
SOFAZ said its revenues from the project totaled $2.77 billion in January-July 2016 with some $465 million being acquired in July. A landmark agreement on developing the ACG oil and gas fields was signed with a consortium of 11 foreign energy companies representing six countries in Baku in 1994, while production at the field was launched in 1997………………………………………..Full Article: Source


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