Azerbaijan, Baku, August 28 /Trend E.Ismaylov/
According to the data on August 26, since early 2001 within the implementation of project on block development of oil and gas fields of Azeri-Chirag-Guneshli (ACG) in Azerbaijani sector of the Caspian sea, State Oil Fund of Azerbaijan (SOFAZ) has recieved $89 428.4 million, SOFAZ told to Trend on Wednseday.
According to Fund, since early 2013 to August 26 within the Azeri-Chirag-Guneshli project the Fund received $10 657.5 million.
The contract on Azeri-Chirag-Guneshli was signed on September 20, 1994.
Shares in the contract for development of Azeri-Chirag-Guneshli block of fields is distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8.56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itochu - 4.3 per cent and ONGC - 2.72 per cent.
The State Oil Fund was established in 1999. Under the company's policy, the funds may be used for construction and reconstruction of strategically important infrastructure projects, as well as for settlement of important national issues.
The main goals of the State Oil Fund include: accumulation of resources and placement of Fund's assets abroad in order to minimize the negative affect on economy, the prevention of "Dutch disease" to some extend, promotion of resource accumulation for future generations and support of current social and economic processes in Azerbaijan.