The Azerbaijani State Oil Fund (SOFAZ) revenues from the country’s major oil and gas fields amounted to $6.8 billion in 2021, SOFAZ has reported.

Azerbaijan increased gas production and export while decreasing oil production and export during the period of January-November 2021.

After buying 9.99 percent of share of Malaysian Petronas in Azerbaijan’s Shah Deniz giant gas and condensate field, Russia’s LUKOIL company will not try to become the project operator by acquiring greater share, the company’s president Vagit Alekperov told reporters.

Azerbaijan's State Oil Company (SOCAR) has increased its participation in the Shah Deniz and South Caucasus Pipeline projects.

The project for development of Azerbaijan’s Shah Deniz gas and condensate field is promising from a commercial point of view, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR said, Trend reports.

bp has decided to increase its holding in the giant Shah Deniz gas field in the Caspian offshore Azerbaijan through negotiations with the Shah Deniz partners on implementation of bp’s pre-emptive rights on PETRONAS previously announced sale of its share, Trend reports with reference to the company.

The Azerbaijani State Oil Fund (SOFAZ) revenues from the country’s major oil and gas fields amounted to $6 billion in January-November 2021, SOFAZ has reported.

Shah Deniz 2 has started the production from the fifth well on the North Flan, BP reported on November 22.

The total production at Azerbaijan's Azeri-Chirag-Guneshli (ACG) block of fields amounted to 126 million barrels in the first three quarters of 2021, BP Azerbaijan has said in its report.

The Azerbaijani State Oil Fund (SOFAZ) revenues from the country’s major oil and gas fields amounted to $4.2 billion in January-September 2021, SOFAZ has reported.