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Tag: Azeri-Chirag-Gunashli

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…

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