In 2009 State Oil Fund of Azerbaijan expects $140 million of dividend from BTC Co
Baku, Fineko/abc.az. State Oil Fund of Azerbaijan (SOFAZ) expects stabilization of dividends from Baku-Tbilisi-Ceyhan (BTC) pipeline named after Heydar Aliyev received for the first time on January 16.
Shakhmar Movsumov, SOFAZ Chief Executive, informed that in 2009 SOFAZ expects $140 million of dividend from BTC Co pipeline company.
For 2008 the Fund also expected receiving $140 million as a dividend from Company’s activity, but in fact gained AZN 97.2 million or $121.348 million according to the exchange rate by end-December 2008.
The first payment (for 2007) totaled $16.5 million of dividend invested into the Fund. Preliminary payment of dividends was planned in 2008.
The participants of Heydar Aliyev BTC Main Export Pipeline project are AzBTC Co, Hess, BP, ConocoPhillips, Eni, ?npex, ?tochu, Statoil, Total, TPAO and Unocal companies.
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