Azerbaijan makes $16 billion in 2010 from lucrative oil and gas

From a total revenue of 12.8 billion manats, in 2010 Azerbaijan made $
268.2 million from the lucrative oil and gas in the Shah Deniz field,
with the remaining amount coming from the oil contracts under PSA, the
head of the State Oil Fund of Azerbaijan, Shahmar Movsumov, told a
press conference on the results of the organization last year on
Thursday, Trend reports.

According to him, this year Azerbaijan also received a small income
from contracts on development of the Binagadi, Surakhani, Absheron,
Kursangi-Karabagli, Bahar, and Gum Denise fields.

Revenues of the State Oil Fund of Azerbaijan (SOFAR) in 2010 amounted
to about AZN 13,000 million, Shahmar Movsumov informed reporters.