TODAY.AZ / Business

SOCAR assets grew on 4% this year

20 April 2006 [22:35] - TODAY.AZ
The State Oil Fund (SOFAR) incomes reached this year 221. 4m AZM and expenditures - 168.7m AZM. 209. 9m AZM came from the oil agreements, 207. 3m AZM - from profit oil sale, 2. 6m AZM from the oil transit payments via Baku - Supsa pipeline.

As Trend reports, 21. 2m AZM has been provided to improve the living conditions of refuges and displaced persons, 21. 7m AZM for BTC project financing, and 125m AZM for transfers to the State budget. SOFAR financed Samur-Absheron amelioration system and reconstruction and creation of the Oguz- Kabala water pipe – 0.1m AZM and 0.5m AZM have been provided for these projects respectively. 0.2m AZM has been spent on the Fund management.

The non-budgetary expenditures and pay outs of the Oil fund with the consideration of the assets re-evaluation made up 3m AZM.

Fund` s assets have reached 1.330.2m AZM (approximately $1. 464m) as for March 31, whereas in January this year they made up 1280.4m AZM (approximately $1.394m).


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