On November 28, 2007 State Oil Fund of the Republic of Azerbaijan received the first payment of 1,8 mln. dollars from Azerbaijan Gas Supply Company in accordance with the Agreement signed between Azerbaijan Government and foreign extractive sector companies on the exploration, development and production sharing for the Shah Deniz prospective area in the Azerbaijan sector of the Caspian Sea.

The participants of Shah Deniz project are BP Exploration (Azerbaijan) Ltd, Statoil Azerbaijan A.S, AzShah Deniz Ltd, TOTAL E&P Ltd, LUKOIL OVERSEAS Shah Deniz Ltd, NICO and TPAO companies.