SOFAZ received over $5.5B from development of ACG in Jan.-Nov. 2024

In January-November 2024, the State Oil Fund of Azerbaijan (SOFAZ) received an income of nearly $5.73 billion from the development of the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea, Report informs, citing SOFAZ.

This is $628.4 million or 9.9% less compared to the same period last year.

In January-November 2023, SOFAZ received an income of $6.35 billion from the development of the block of fields.

ACG is Azerbaijan's largest oil field block. The first production-sharing agreement for the development of the block of fields was signed on September 20, 1994.