Established in 1992, IBA is the largest bank in Azerbaijan by assets. It reported a net profit of 32.4 million manats in the first quarter of 2021.

Uzbekneftegaz is hoping to secure $184 million in financing from EXIM Bank for the next stage of the project.

The $6 billion ACE project is the latest development phase in the Azeri-Chirag-Guneshli (ACG) fields