January 30, 2018 / 12:19 PM / 3 months ago

Azeri SOFAZ gets $450 mln in first bonus under new ACG agreement

BAKU, Jan 30 (Reuters) - Azerbaijan’s state oil fund SOFAZ said on Tuesday it has received $450 million in the first bonus payment from the new agreement signed with foreign investors working at the Azeri-Chirag-Gunashli group of oil fields.

According to the contract, the foreign investors will pay the overall bonus of $3.6 billion to SOFAZ over the next 8 years. (Reporting by Nailia Bagirova; Writing by Polina Nikolskaya; Editing by Katya Golubkova)

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