Finance

Finance

Classification of SOFAZ budget for 2014 made public

20 December 2013 14:37 (UTC +04:00)

In the structure of revenues, AZN 11,221,286.4 thousand will come from proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (exclusive of hydrocarbons' transportation costs, banking expenses, customs costs, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner). In addition, AZN 1,661.6 thousand made acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources, AZN 6,276.0 thousand - revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan, AZN 379,580.7 thousand - revenues from SOFAZ's asset management, AZN 18,038.7 thousand - bonuses paid by investors when signing and fulfilling oil and gas agreements and AZN 100.0 thousand - other revenues and incomes according to legislation.

Regarding expenditures, AZN 9,337,000.0 thousand will be allocated to transfer to 2014 State Budget of the Republic of Azerbaijan, AZN 300,000.0 thousand to financing the improvement of social condition of refugees and IDPs, AZN 80,221.3 thousand to financing the reconstruction of the Samur-Absheron irrigation system, AZN 132,311.0 thousand to Financing "Baku-Tbilisi-Kars railway" project, AZN 33,680.0 thousand to financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015", AZN 100,000.0 thousand to financing of the construction of high speed fiber optic network providing an access to all settlements of Azerbaijan Republic, AZN 285,000.0 thousand to financing of the share of Azerbaijan Republic in the construction project of the Oil-Gas and Petrochemical Consortium (OGPC), AZN 223,582.5 thousand to financing of the share of Azerbaijan Republic in the construction of the STAR oil refinery project in Turkey, AZN 800,000.0 thousand to financing of the share of Azerbaijan Republic in the construction of the TANAP project and AZN 58,140.0 thousand to administrative expenses of the State Oil Fund of the Republic of Azerbaijan.