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Tuesday, April 29, 2008

Azerbaijan raises share in Azeri-Chyrag-Guneshli perspective structure development

18 April 2008 - Today.Az - The share of the Azerbaijani government in the project of the Azeri-Chirag-Guneshli perspective structure development has risen from 50 up to 75% since April 1. The due announcement was made by Shahmar Movsumov, chief executive of the State Oil Fund of Azerbaijan. He said the share of the consortium has reduced from 50% down to 25% as compared to the beginning of the year. The said process depends on oil prices on the world market. The head of the fund also noted that the share of the Azerbaijani government in the Azeri-Chirag-Guneshli project made up 25% in 2007.

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