SOFAZ sees over 48% decrease in revenues from Shah Deniz

From January through May this year, the State Oil Fund of Azerbaijan (SOFAZ) received an income of $62.176 million from the Shah Deniz field located in the Azerbaijani sector of the Caspian Sea, the Fund told Report.

This is $57.824 million or 48.2 percent less than in January-May 2020.

For the five months of 2020, SOFAZ’s revenues from the Shah Deniz field amounted to $120 million.

For the five months of this year, gas condensate accounted for $57.131 million of funds received by the State Oil Fund, which is $8.969 million or 13.4 percent less than in the same period last year.

From January through May 2020, SOFAZ’s revenue from the Shah Deniz gas condensate field amounted to $66 million, with condensate making $59 million.