Development of the Azeri-Chirag-Guneshli (ACG) oilfields and giant Shah Deniz gas field are the main energy projects in Azerbaijan.

The Energy Ministry said that oil production would still be below 718,000 bpd produced in October 2018, when members of OPEC+ agreed to reduce oil production gradually.

SOFAZ sovereign wealth oil fund holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue.

Lenders reported a fall in total net profit of 1.4 percent year-on-year of 505.6 million manats ($297.4 million) in the period from January to September 2021.

The country's revenues from gas exports rose by 56 percent year-on-year to $2.95 billion.

A BP-led consortium produces oil at Azerbaijan’s giant off-shore Azeri-Chirag-Guneshli (ACG) oilfields, which account for most of the country’s oil production.

Oil and gas condensate production declined 0.9 percent from January to September from a year earlier to 25.9 million tonnes, while natural gas output increased 15.1 percent to 31.7 bcm.