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.

The volume of Azerbaijan’s gas exports increased by 13.6 percent or 2 billion cubic meters year-on-year in the period between January and May, amounting to 16.4 billion cubic meters of gas, the Ministry of Energy’s press service reported on June 24.

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.

The total volume of BP’s capital expenditure on Azerbaijan’s oil and gas projects between 1995 and 2019 amounted to $75 billion, BP said in its “Sustainable report of BP in Azerbaijan in 2019” published recently.

Azerbaijan exported 2.7 billion cubic meters of gas from Shah Deniz field to Turkey in the first quarter of 2020, which is 20.5 percent more than in the same period last year, the Energy Market Regulatory Authority of Turkey has reported.

Azerbaijan increased the volume of the gas production by 15 percent or 1.8 billion cubic meters in the first four months of 2020 compared to the same period in 2019, press-service of the Ministry of Energy reported on May 21.

Azerbaijan exported 31 million 238,000 tons of oil in 2019, which is 4.3 percent lower than in 2018.

Southern Gas Corridor (SGC), which envisages transportation of Azerbaijani gas to Europe and increasing availability of liquefied natural gas (LNG) will play an important role in diversification going forward, Ole Hvalbye, markets analyst at Rystad Energy, the independent energy research and consulting firm headquartered in Norway, told Trend.

SOCAR’s (Azerbaijan’s State Oil Company) dividends from the development of the Shah Deniz field and gas export through the South Caucasus Pipeline (SCP) are expected to range from $75.69 million to $195.22 million depending on oil prices, Azerbaijan’s Chamber of Accounts told local media.