Income of Azerbaijani State oil fund from Shah-Deniz project exceed $1.7 billion

~~As of April the 1st of 2014, from 2007 the income of the Azerbaijani State oil fund from the development of the Shah-Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea made up $1.712 billion, the fund reported on Friday.

The reserves of the Shah-Deniz field are estimated at 1.2 trillion cubic meters of gas. The contract on the development of the field was signed in June 4th of 1996. The distribution of stakes among participants of the agreements is following: BP (operator) – 28.8%, Statoil – 15.5%, NICO – 10%, Total – 10%, Lukoil – 10%, TPAO – 9% and SOCAR – 16.7%.

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