SOFAZ earns nearly AZN 4.4 billion from ACG in 1H2026

In January–June 2026, the State Oil Fund of Azerbaijan (SOFAZ) received nearly 4.375 billion manats (over $2.57 billion) in revenue from the development of the Azeri-Chirag-Gunashli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea.

According to Report citing SOFAZ, this figure is 52.4 million manats (just over $30.8 million), or 1.2% lower compared to the same period in 2025.

ACG is the largest oil field block in Azerbaijan. The first production sharing agreement (PSA) for the development of the field block was signed on September 20, 1994.

On September 14, 2017, a new agreement was signed for the joint operation of these fields and the distribution of production shares. This agreement provides for the development of the fields until the end of 2049.

In ACG, BP (30.37%), SOCAR (31.65%), MOL Group (9.57%), INPEX (9.31%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGC Videsh Limited (OVL) (2.925%) are shareholders.