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SOFAZ assets reach $30 bln

08 February 2012 13:07 (UTC +04:00)

Revenue of 15,451.9 mln. manats was received from implementation of oil and gas agreements, including 15,257.5 mln. manats from the sale of profit oil and gas, 101.7 mln. manats from difference in price from the phase I of Shah Deniz, 66.8 mln. manats from Azerbaijanâ€™s State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 7.5 mln. manats as transit payments, 1.3 mln. manats as acreage payments, 15.7 mln. manats as bonus payments and 1.4 mln. manats from sale of assets received from foreign companies.

The revenues from managing assets of the Fund for the reporting period amounted to 176.4 mln. manats.

As per 2011 budget of the Fund, 9,000.0 mln. manats were transferred to the state budget. The expenditures in the amount of 140.0 mln. manats were directed to financing of settlement of the problems of refugees and internally displaced persons, 200.0 mln. manats and 32.6 mln. manats were accordingly used for financing the reconstruction of the Samur-Absheron irrigation system and financing construction of the Oghuz-Gabala-Baku water supply system, 15.0 mln. manats to financing "The state program on the education of Azerbaijan youth abroad in the years 2007-2015" and 161.9 mln. manats were directed to financing Baku-Tbilisi-Kars railway. The Fundâ€™s administrative and operational expenses in this period were 57.1 mln. manats.

The Fundâ€™s extra-budgetary expenditures related to the revaluation of foreign exchange totalled 749.8 million manats.

The assets of SOFAZ as at January 1, 2012 has grown by 30.9 % compared to the beginning of 2011 (USD 22,766.8 mln.) and stood at USD 29,800.0 mln.