Revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli block (ACG) and profitable gas and condensate from the “Shah Deniz” field in January-February 2024 amounted to $940.5 million.
Based on the data of the Oil Fund, revenues from the ACG and “Shah Deniz” projects decreased by 49.4% compared to the actual figures of January-February last year.
In the total volume of these revenues, revenues from the sale of profitable oil from the ACG block amounted to $862 million, by 34.9% lower than in January-February 2023.
SOFAZ’s revenues from the sale of profitable gas and condensate extracted from the “Shah Deniz” field amounted to $78.5 million (a decline of 85.3%). At the same time, revenues from the sale of condensate amounted to $15.7 million (a decline of 73%).
The Oil Fund does not explain why there was such a sharp decline in revenues at the beginning of this year within the framework of the largest oil and gas projects in Azerbaijan.
