BAKU, Azerbaijan, August 4. The actual output
and revenue from a number of oil and gas fields of the State Oil
Fund of Azerbaijan (SOFAZ) fell short of the approved forecast
figures in 2025.


This is reflected in the Chamber of Accounts' audit report on
the formation of SOFAZ's funds and their use across key areas.


According to the report, annual oil production at the
Azeri-Chirag-Gunashli (ACG) field was forecasted at 123.01 million
barrels, while actual production amounted to 119.81 million
barrels. This represented a shortfall of 3.2 million barrels, with
the forecast fulfilled at 97.4%.


At the Bahar field, oil production was forecast at 0.19 million
barrels, while actual output reached 0.18 million barrels. The
difference was 0.01 million barrels, with an execution rate of
92.26%.


At the same time, gas production at the Bahar field totaled
165.88 million cubic meters, compared to the forecasted 190.53
million cubic meters. The shortfall amounted to 24.65 million cubic
meters, with execution at 87.06%.


At the Zigh-Hovsan Absheron field, production reached 0.38
million barrels against the forecasted 0.48 million barrels. The
difference was 0.09 million barrels, with execution at 80.93%.


Other fields also failed to meet forecast targets. Production at
the Binagadi field reached 0.97 million barrels against the
forecast 0.99 million barrels (execution – 98.25%), Mishovdag and
Kalameddin fields produced 0.60 million barrels against 0.62
million barrels (execution – 96.21%), Kirovdag produced 0.93
million barrels against 1.01 million barrels (execution – 92.04%),
while Kursangi and Garabaghli produced 0.85 million barrels against
the forecast 0.88 million barrels (execution – 95.6%).


According to the audit report, revenues from the fields also
came in below projections. Revenue from the ACG field amounted to
$4.8 billion, compared to the forecasted $4.95 billion. The
shortfall totaled $77.44 million, with execution at 98.44%.







At the Bahar field, no revenue was recorded from oil production
despite a forecast of $280,000.


Revenue from gas production at the Bahar field amounted to
$110,000, compared to the forecasted $260,000. The difference was
$170,000, with execution at 20.41%.


At the Zigh-Hovsan Absheron field, revenue totaled $1.64
million, compared to the forecasted $3.1 million. The shortfall
amounted to $1.46 million, with execution at 52.94%.


At the Kirovdagh field, revenue reached $5.12 million, compared
to the projected $6.13 million. The difference was $1.01 million,
with execution at 83.48%.


At the Surakhani field, actual revenue totaled $1.07 million,
compared to the forecasted $3.24 million. This represented a
decline of $2.17 million, with execution at 33.06%.


"In 2025, actual oil production at the Azeri-Chirag-Gunashli
field was lower than forecast due to a number of operational and
technical factors, including sand ingress in certain wells, the
temporary shutdown of some wells, well integrity issues, repair and
restoration work that did not fully deliver the expected results,
and unplanned outages. These factors resulted in lower execution
under this revenue item," the report said.