Azerbaijan’s profit from ACG project drops sharply in May
Revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Gunashli (ACG) block totaled $ 1 billion 986…
Albanian Minister of Culture visits TAP archaeological sites
On 26 July 2018, the Minister of Culture of Albania, Mirela Kumbaro, accompanied by the TAP Country Manager for Albania Ad Interim, Michele Mario Elia, visited two…
Indian companies intend to participate in energy and petrochemical projects in Azerbaijan
Ambassador of India to Azerbaijan, Mr. Sanjay Rana met with the Minister of Energy, Parviz Shahbazov to discuss matters related to cooperation between the two…
Subsea 7 awarded contract offshore Azerbaijan
Subsea 7 S.A. today announced the award of a substantial contract by BP Exploration for the provision of subsea inspection, repair and maintenance (IRM) services…
Volume of gas production in Azerbaijan to double – Fitch
Beginning of gas production from the Shah Deniz 2 project will allow Azerbaijan to diversify its own energy resources. The head of Fitch Ratings on…
SOFAZ received more than $650mn from ACG in January
In January 2018, revenues to the State Oil Fund of Azerbaijan (SOFAZ) within the framework of the Azeri-Chirag-Gunashli (ACG) block amounted to $ 651.6 million….
SOFAZ received the first bonus payment from Azeri-Chirag-Gunashli Agreement
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) received the first bonus payment in the amount of USD 450 million from the new…
Azerbaijan sold 251 mln tons of profit oil so far
445.4 mln tons of oil and 140.5 bln cum of gas have been produced from the “Azeri-Chirag-Gunashli” (ACG) fields in the Azerbaijani sector of the Caspian…
Up to 500 million tons of oil to be extracted from “Azeri-Chirag-Gunashli” by 2050
Up to 500 million tons of oil will be extracted from the Azeri-Chirag-Gunashli (ACG) offshore fields in the Caspian Sea , by 2050, said first…
Azerbaijan to earn $429 mln from ‘Shah Deniz’ gas sale in 2018
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…
Azerbaijan gets first bonus on new ACG agreement in late January
Foreign investors on the new agreement on the “Azeri-Chirag-Gunashli” fields block in the Azerbaijani sector of the Caspian Sea will pay the first part of the bonus amount…
Work Plan for ACG Block for 2018 to Be Approved in December
In December, the meeting of the committee on managing the Azeri-Chirag-Gunashli (ACG) field block will be held, at which the work plan and budget for…