Oil and gas projects are implemented through contractual arrangements between the state, as the owner of mineral resources, and international oil companies possessing the technical expertise and financial capacity required for exploration and development. These agreements establish the legal, fiscal, and operational framework governing the exploration, production, and commercialization of hydrocarbon resources.
Revenues from Oil and Gas Agreements
State Oil Fund of the Republic of Azerbaijan (SOFAZ) accumulates and manages revenues derived from the development and transportation of the country’s hydrocarbon resources in accordance with applicable oil and gas agreements.
