Since 2001 till September 1, 2015 the State Oil Fund of Azerbaijan (SOFAZ) has received $115,092,000,000 from development of the bloc of oil and gas fields Azeri-Chirag-Guneshli (ACG) in the Azerbaijani sector of the Caspian Sea.
According to SOFAZ, from January to August 2015 $4.94 billion was transferred to the Fund from ACG.
SOFAZ’s incomes into ACG constituted over 93% of all proceeds of the Fund. In 2014 SOFAZ’s incomes totaled $16.2 billion, of which proceeds from ACG totaled over $15.1 billion.
The shares in the contract are distributed as following: BP (ACG operator) – 35.78%, Chevron – 11.27%, "Inpex" – 10.96%, AzACG – 11.65%, "Statoil" – 8.56%, "Exxon" – 8%, ТРАО – 6.75%, "Itochu" – 4.3% and ONGC – 2.72%.
* By July 1, 2014 SOFAZ’s assets totaled $35,783,300,000.—0—
Economics
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