Over 10 months, the Oil Fund's revenues from the ACG project decreased by $2.46 billion

Baku/06.11.23//Turan: In January-October 2023, revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli (ACG) block amounted to $5 billion 865.8 million, press-service of SOFAZ. Compared to January-October 2022, the Oil Fund's revenues from the ACG project decreased by 29.5% or by $2 billion 460.2 million.

By the end of 2022, the revenues to SOFAZ from the sale of profitable ACG oil amounted to $9 billion 889 million.

It should be noted that the decrease in revenues of the Azerbaijan Oil Fund from the ACG project is due to two factors: a 15% decrease in oil prices, as well as a drop in production on the contract area by almost 14 million barrels. --0-

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