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Azerbaijan to earn $429 mln from ‘Shah Deniz’ gas sale in 2018

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As forecasted, in 2018, the State Oil Fund of Azerbaijan Republic (SOFAZ) will receive $ 428.9 mln from sale of profit oil of Azerbaijani’s share from production on the “Shah Deniz” gas condensate field, which is located in Azerbaijani sector of the Caspian Sea.

Report informs, says “Opinion on SOFAZ budget for 2018” by the Chamber of Accounts says.

According to Production Sharing Agreements (PSA), volume of the Oil Fund’s revenues for other exploited fields determined below:

– $ 2.08 mln on “Kursengi-Garabaghli” fields;

– $ 3.25 mln on “Surakhani-Garachukhur” fields;

– $ 0.87 mln on “Zigh-Hovsan” fields;

– $ 2.39 mln on “Muradkhanli-Jafarli-Zardab” fields;

– $ 0.37 mln on “Neftchala-Khilli” fields;

– $ 1.43 mln on “Mishovdagh-Kalamaddin” fields;

– $ 2.02 mln on “Kurovdagh” field;

– $ 11.43 mln on “Balakhani-Sabunchu-Ramana and Kurdakhani” fields;

– $ 4.11 mln on fields of “Binagadi” block;

– $ 1.74 mln on “Gum-Deniz” and “Bahar” fields.

Notably, it is predicted that revenues to the SOFAZ from sale of profit oil and gas will make $ 5 653.4 mln or 9 723.8 mln AZN in 2018, which is more by 1 403.7 mln AZN or 16,9% than corresponding figure in 2016 in manat terms, less by 102.4 mln AZN or 1.0% than forecast indicator in 2017, as well as less by 1 294.6 mln AZN or 11,7% than expected.

The Oil Fund is forecasted to receive $ 5 194.8 mln from sale of profit oil from “Azeri-Chirag-Gunashli” fields.

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