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

AzerGold has increased the estimation of recoverable gold reserves at the Chovdar gold deposit by 3.5 times - up to 731,900 ounces.

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

Anglo Asian Mining Plc, reported a decline in gold production to 10,040 ounces in the first quarter of 2022 from 11,907 ounces in the same period last year.

The country reduced oil exports by 16.5 percent year-on-year to 5.888 million tonnes and increased exports of natural gas by 10.7 percent to 5.03 billion cubic metres (bcm).

Oil production in March was below the country’s quota under OPEC+ commitments at 675,000 bpd. Azerbaijan is now set to produce 682,000 bpd in April and 688,000 bpd in May.