State Oil Fund's revenues from the major oil and gas fields amounted to $3 billion for the period of January-August 2020, the Fund has reported.

Hungary’s largest energy company MOL Group produced 8.2 million barrels of oil per day from Azerbaijan’s Azeri-Chirag-Guneshli (ACG) block of fields in the Caspian Sea in the first half of 2020, local media reported with the reference to the company’s press service.

Azerbaijan increased its gas production while decreasing oil production in the first seven months of 2020.

The volume of production in Azerbaijan’s Azeri-Chirag-Guneshli block of oil fields at the Caspian Sea increased by 12 million tons in the first half of 2020, amounting to 91 million barrels, the block’s major shareholder BP has reported.

Azerbaijan’s daily oil production (including condensate) amounted to 650,100 barrels in July 2020, Energy Ministry has reported.

Trend's interview with Tommy Kassem, VP Oilfield Services, Russia Caspian Baker Hughes

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the major oil and gas fields amounted to $2.8 billion in the first six months of 2020, the Fund has reported.

Over $106 billion were invested in Azerbaijan’s oil sector in the period between 1995 and 2019, Energy Minister Parviz Shahbazov has said.

A stake in the project for development of Azeri-Chirag-Gunashli (ACG) block of oil fields in the Azerbaijani sector of the Caspian Sea can be crucial to fulfilling growth ambitions, Ashley Sherman, Principal Research Analyst – Caspian & Europe at Wood Mackenzie told Trend.

Azerbaijan's State Oil Fund has announced its revenues from sales of oil and gas from Azeri-Chirag-Guneshli and Shah Deniz fields, the Fund's Public Relations Department said on June 3.