
Baku - The receipts of the State Oil Fund of Azerbaijan (SOFAR) totaled 1460.0 billion AZM, expenses - 982.6 billion AZM during January-September 2003. This information is contained in quarterly report of the SOFAR.
Receipts from implementation of petroleum contracts totaled 1325.3 billion AZM, including 653.7 billion from sale of profit oil, 63.1 billion AZM from acre payments, 48.1 billion AZM from transit fees for oil transportation through Baku-Supsa oil pipeline in the territory of Azerbaijan, 559.8 billion AZM from bonus payments, 0.6 billion AZM from leasing state properties.
320.7 billion AZM of bonus payments fall at the funds provided by the National Bank for financing of the BTC project, 239.1 billion AZM fall at LUKoil bonuses for extension of D-222 contract area. SOFAR receipts from managements of assets totaled 134.7 billion AZM during the first 9 months of this year.
SOCAR expenses were made further to presidential decrees NN-562, 577 and 700 (respectively of 22 August and 7 September 2001, 13 May 2002), as well as budgetary provision of SOFAR for year 2003 for the purposes of financing the measures for improvement of social status of refugees and internally displaced persons. 76.2 billion AZM were paid within orders of the State Committee for Refugees, 574.6 billion AZM were used for financing of the BTC project, and 320.0 billion AZM were transferred to the state budget. The expenses, related to management of fund assets totaled 2.8 billion funds. Profit tax transfers to the state budget totaled 9 billion AZM.
The Oil Fund assets totaled 3 trillion 387.3 billion AZM (almost $692 million) as of 1 January 2003, and 3 trillion 864.7 billion AZM (almost $787.1 million) as of 1 October 2003.
P.I.N// Baku Today
News ID 7965
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