SOFAZ revenue from ACG development exceeded 6.5B manats in January–September

The State Oil Fund of Azerbaijan (SOFAZ) received 6,570.6 million manats ($3,865.059 million) in revenues from the development of the Azeri-Chirag-Gunashli (ACG) block of fields located in the Azerbaijani sector of the Caspian Sea in January–September of this year, Report informs referring to the Fund.

According to the data, this is 386.7 million manats ($227.471 million), or 6.3%, more compared to the same period in 2025.

ACG is the largest block of oil fields in Azerbaijan. The first production sharing agreement (PSA) for the development of the block of fields was signed on September 20, 1994. On September 14, 2017, a new agreement on the joint development and production sharing of these fields was signed. This agreement provides for the development of the fields until the end of 2049.

The equity partners in ACG are BP (30.37%), SOCAR (31.65%), MOL Group (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), and ONGC Videsh Limited (OVL) (2.925%).