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Third part of ACG bonus of $450 million paid to SOFAZ

17.02.2020,18:14


February 17, Fineko/abc.az. As part of the extended agreement on the Azeri-Chirag-Gunashli Project (ACG), a third of the total bonus of foreign investors - $450 million - was paid to the State Oil Fund of Azerbaijan (SOFAZ) on 7 January 2020, reports the SOFAZ Public Relations Department.

The first two parts of the total bonus – by $450 million each - were paid to SOFAZ in 2018 and 2019.

According to the Agreement signed on 14 September 2017 "On joint development and equity share distribution of production of the deep-water part of the Azeri, Chirag and Guneshli fields" in the Azerbaijani sector of the Caspian Sea, a total of $3.6 bn of payments is envisaged by the foreign investors for 2018-25.