BAKU, Azerbaijan, January 31. Revenues of Azerbaijan’s State Oil Fund (SOFAZ) from the Azeri-Chirag-Gunashli (ACG) field are projected to be $4.956 billion in 2025, according to the Chamber of Accounts, Trend reports.
This represents a decrease of 19.5% compared to the $6.159 billion forecasted for 2024 and a 28.2% decline from the $6.899 billion generated in 2023.
The state’s share in the production of the ACG field for 2025 is estimated to be 73 million barrels.
The ACG Production Sharing Agreement (PSA) was initially signed on 20 September 1994. Since that time, around $45 billion of investment has been made in the development of the ACG field.
On 14 September 2017, an amended and restated ACG PSA was signed, which extended the term of the PSA until 2049.
First ACG oil was produced from the Chirag field on 7 November 1997.
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