In January-September 2025, Azerbaijan's State Oil Fund (SOFAZ) generated $410.03 million in revenue from the development of the Shah Deniz field in the Azerbaijani sector of the Caspian Sea, SİA has learned from the SOFAZ.
This amount is $45.56 million, or 12.5%, higher compared to the same period in 2024, when the revenue stood at $364.466 million.
The exploration, development, and production sharing agreement (PSA) for the Shah Deniz field was signed on June 4, 1996, and ratified on October 17, 1996. The field, located 70 km southeast of Baku, was discovered in 1999.
According to documents signed in Baku on December 17, 2013, the PSA agreement duration for Shah Deniz was extended from 2036 to 2046.
The current shares in Shah Deniz are held by BP (operator – 29.99%), Lukoil (19.99%), TPAO (19%), NICO (10%), South Gas Corridor (16.02%), and MVM (5%).
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