From 2007 till April 1, 2014 incomes of the State Oil Fund of Azerbaijan (SOFAZ) from development of the Shah-Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea totaled $1,712,000,000.
During quarter 1, 2014 SOFAZ received $115.6 million from the Shah Deniz project.
By January 1, 2014 SOFAZ’s assets totaled $35,877,500,000.
The Shah-Deniz partners are BP (operator) – 28.8%, SOCAR – 16.7%, Statoil -15.5%, NICO – 10%, Total – 10%, LUKoil – 10% and TPAO – 9%.
The contract for development of the Shah Deniz offshore field was signed on June 4, 1996. The Shah Deniz field’s resources are estimated at 1.2 trillion cub.m. of gas.
