BAKU, Azerbaijan, February 4. Azerbaijan’s State Oil Fund (SOFAZ) is expected to generate $700,000 in revenues from the sale of profit oil from the Neftchala and Khylly fields in 2025, Trend reports with reference to the Chamber of Accounts.
The state’s share in oil production from these fields is projected to reach 20,000 barrels.
Oil production at Azerbaijan’s Neftchala, Khylly, and Durovdagh-Babazan fields is expected to remain unchanged in 2025.
The forecast for 2025 stands at 0.21 million barrels, consistent with the estimated production for 2024 and the actual output recorded in 2023.
The agreement for the rehabilitation, development, and distribution of production shares from the block, which includes the oil fields of Neftchala, Durovdagh-Babazen and the southwestern slope of the Mughan monocline came into force on October 5, 2009. The contract area covers 2,707.7 square kilometers. Neftchala Operating Company is the operator.
Industrial development of the Neftchala field began in 1931, the Khylly field in 1954, and the Durovdagh field in 1978.
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