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Increased by 25%: State Oil Fund Spoke About its Income

Increased by 25%: State Oil Fund Spoke About its Income

Revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli block and condensate from the Shah Deniz field in January-August 2021 amounted to $3 billion 618.178 million, which is 25.2% higher than the same period last year, the fund reports.

According to the report, SOFAZ’s revenues from the sale of Azerbaijan’s profitable oil from the ACG block amounted to $3 billion 488.5 million (an increase of 31.3%).

In addition, SOFAZ’s revenues from the sale of profitable gas and condensate produced from the Shah Deniz field amounted to $130.137 million (a decline of 1.8 times), including revenues from the sale of condensate amounted to $57.131 million (a decline of 2.9 times).

According to the fund, the total revenues to SOFAZ from the sale of Azerbaijan’s profitable oil from the ACG block from 2001 to September 1, 2021 amounted to $152.893 billion, from the sale of profitable gas and condensate from the Shah Deniz field from 2007 to September 1, 2021 – $3.797 billion.