Baku, Fineko/abc.az. The State Oil Fund of Azerbaijan (SOFAZ) has announced the growth of its assets by 9.6% in the 1st half of 2012.

At the press conference the Fund’s Executive Director Shahmar Movsumov has reported that over the 1st half of the year SOFAZ assets rose  up to $32.666 bn versus AZN 29.8 bn by early 2012. For Jan-June 2012 Fund’s revenues amounted to AZN 7.391 bn and expenditures AZN 4.878 bn.

Revenues were received due to oil and gas contracts (AZN 7.099 bn), including AZN 7.091 bn from sale of profit oil and gas, AZN 3.9 million from transit fees, AZN 1.6 million from payment of bonuses, AZN 200,000 from sale of the assets transferred by foreign companies. Income from SOFAZ management for the 1st half of the year reached AZN 292.1 million.

Expenditures included a transfer to the State Budget of Azerbaijan (AZN 4.592 bn). Assignments for improvement of social conditions of refugees and IDPs totaled AZN 162.5 million, construction of Samur-Absheron irrigation system AZN 67 million, education of Azerbaijani youth abroad AZN 5 million, construction of Baku-Tbilisi-Kars railway AZN 37 million. Expenditures on Fund’s management amounted to AZN 14.3 million.

23.07.2012 17:05