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Azerbaijan Oil Fund revenues from ACG and Shah Deniz blocks collapsed

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Income to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli (ACG) block and condensate from the Shah Deniz field in January-March 2021 amounted to $ 982.664 million.

This is by 41.2% less than the same period last year, the Oil Fund reports.

At the same time, for the entire quarter, the Oil Fund of Azerbaijan did not have any gas revenues from the Shah Deniz project.  The state revenues from the sale of profitable condensate amounted to only $ 29.166 million, which is 3.4 times less than in January-March 2020.

During the reporting period, SOFAZ revenues from the sale of profitable oil from the ACG block amounted to $ 953.498 million. A decrease of 39.3%.

Income of the Azerbaijan Oil Fund from the ACG and Shah Deniz projects

Projects Raw materialsFirst quarter  of2021First quarter of 2020Changes
ACG Oil982 6641        671 000-41,2%
Shad-Deniz Gas050 000
 Condensate29 166100000-70,8%

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