{"id":188462,"date":"2018-02-01T16:10:02","date_gmt":"2018-02-01T16:10:02","guid":{"rendered":"https:\/\/www.meydan.tv\/article\/azerbaijan-receives-450-million-bonus\/"},"modified":"2021-10-29T14:35:56","modified_gmt":"2021-10-29T10:35:56","slug":"azerbaijan-receives-450-million-bonus","status":"publish","type":"post","link":"https:\/\/www.meydan.tv\/en\/article\/azerbaijan-receives-450-million-bonus\/","title":{"rendered":"Azerbaijan receives $450 million bonus"},"content":{"rendered":"
\n \"\"
<\/figcaption><\/figure>\n

\n The State Oil Fund of Azerbaijan (SOFAZ)
\n
\n has received
\n <\/a>
\n $450 million as the first part of a $3.6 billion bonus from the consortium of oil companies developing the Azeri-Chirag-Deepwater Gunashli (ACG) field.\n<\/p>\n

\n Under the terms of the contract
\n
\n signed in September 2017
\n <\/a>
\n , SOFAZ will receive a $450 million bonus every year from 2018 to 2025, totaling $3.6 billion. The first tranche was received by SOFAZ on 29 January, 2018. The oil fund has not announced how the bonus will be spent.\n<\/p>\n

\n The original contract for the development of the Azeri-Chirag-Deepwater Gunashli field was signed on 20 September, 1994, and oil production began in November 1997. That agreement was due to expire in 2024, but on 14 September, 2017, a new contract was signed extending the development of the fields until 2050.\n<\/p>\n

\n Under the new contract, shares are distributed as follows:\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n British Petroleum (BP)\n <\/td>\n\n 30.37%\n <\/td>\n<\/tr>\n
\n SOCAR\n <\/td>\n\n 25.00%\n <\/td>\n<\/tr>\n
\n Chevron\n <\/td>\n\n \u00a09.57%\n <\/td>\n<\/tr>\n
\n INPEX Corp.\n <\/td>\n\n \u00a09.31%\n <\/td>\n<\/tr>\n
\n Statoil\n <\/td>\n\n \u00a07.27%\n <\/td>\n<\/tr>\n
\n ExxonMobil\n <\/td>\n\n \u00a06.79%\n <\/td>\n<\/tr>\n
\n TPAO\n <\/td>\n\n \u00a05.73%\n <\/td>\n<\/tr>\n
\n ITOCHU\n <\/td>\n\n \u00a03.65%\n <\/td>\n<\/tr>\n
\n ONGC India\n <\/td>\n\n \u00a02.31%\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

\n Under the new agreement, an estimated $43 billion will be invested in the development of the Azeri-Chirag-Deepwater Gunashli oil field by 2050.<\/p>\n","protected":false},"excerpt":{"rendered":"

Azerbaijan will receive a $450 million bonus each year for eight years from the oil consortium developing the ACG field<\/p>\n","protected":false},"author":11,"featured_media":98803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_sitemap_exclude":false,"_sitemap_priority":"","_sitemap_frequency":"","footnotes":""},"categories":[37],"tags":[],"class_list":["post-188462","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","infinite-scroll-item","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33","no-featured-image-padding"],"acf":[],"yoast_head":"\nAzerbaijan receives $450 million bonus - MEYDAN.TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.meydan.tv\/en\/article\/azerbaijan-receives-450-million-bonus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Azerbaijan receives $450 million bonus - 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