In January-September the State Oil Fund of Azerbaijan (SOFAZ) received $ 5 billion 499 million from the sale of profit oil from the Azeri-Chirag-Guneshli (ACG) oilfield and gas from the Shah Deniz field.
According to the Fund, most of the revenues ($ 5 billion 225 million) were the share of profit oil, while the remaining $ 274 million was profit gas from Shah Deniz. From the beginning of the accumulation of finances of SOFAZ (early 2001) to October 1 this year, through the sale of oil from ACG the Fund received $ 115 billion 376 million and from the sale of gas from Shah Deniz since early 2007 it received $ 2 billion 394 million.
The participants of the ACG project are SOCAR (11.65%), BP (35.78%), Chevron (11.27%), ExxonMobil (8.0006%), Indian ONGC Videsh Limited (2.72%), the Japanese companies Inpex (10.96%) and Itochu (4.3%), Statoil (8.56%) and the Turkish company TPAO (6.75%).
Participants of the project Shah Deniz are SOCAR (16.7%), BP (28.8%), Petronas from Malaysia (15.5%), LUKoil (10%), NICO (10%), and TPAO (19%). In both projects, the operator is BP.--17D—
Economics
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Azerbaijan's state oil company SOCAR announced plans on November 15 to issue green bonds in the Azerbaijani financial market to support environmentally sustainable projects.
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The State Oil Company of Azerbaijan Republic (SOCAR) on Friday signed a memorandum of understanding (MoU) with Masdar of the United Arab Emirates and ACWA Power of Saudi Arabia to develop a network of offshore wind farms with a total capacity of 3.5 gigawatts in the Azerbaijani sector of the Caspian Sea.
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Russian delegates at the COP 29 climate summit have reaffirmed their commitment to upholding the principles of the UN Framework Convention on Climate Change (UNFCCC) and the Paris Agreement. The Russian Federation stressed the importance of adhering to the principle of "common but differentiated responsibilities," arguing that developed nations must continue to honor their commitments to climate finance, while allowing developing countries to contribute on a voluntary basis.
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