How much money Azerbaijan Oil Fund has?

How much money Azerbaijan Oil Fund has?

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2011 reached 15 628.3 million mantas or 19 875.7 million dollars, while budget expenditures constituted 9 606.6 mln. Mantas or 12 217.4 million dollars.

Revenue of 15 451.9 mln. manats or 19 651.4 million dollars was received from implementation of oil and gas agreements, including 15 257.5 mln. Mantas or 19 404.1 million dollars from the sale of profit oil and gas, 101.7 mln. Mantas or 129.3 million dollars from difference in price from the phase I of Shah Deniz, 66.8 mln. Mantas or 84.9 mln dollars from Azerbaijan’s State participation share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 7.5 mln. Mantas 9.5 mln dollars as transit payments, 1.3 mln. Mantas or 1.6 mln dollars as acreage payments,  15.7 mln. Mantas or 19..9 mln dollars as bonus payments and 1.4 mln. Mantas or 1.8 mln dollars 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. Mantas or 224.3 mln dollars.

As per 2011 budget of the Fund, 9 000.0 mln. Mantas or 11 446 mln dollarswere transferred to the state budget. The expenditures in the amount of 140.0 mln. manats or 178 mln dollarswere directed to financing of settlement of the problems of refugees and internally displaced persons, 200.0 mln. Mantas or 254.3 mln dollars and 32.6 mln. Mantas or 41.5 mln dollars 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. Mantas or 19.1 mln dollars to financing “The state program on the education of Azerbaijan youth abroad in the years 2007-2015” and 161.9 mln. Mantas or 205.9 mln dollars were directed to financing Baku-Tbilisi-Kars railway. The Fund’s administrative and operational expenses in this period were 57.1 mln. Mantas or 72.6 mln dollars.

The Fund’s extra-budgetary expenditures related to the revaluation of foreign exchange totaled 749.8 million manats.or 953.6 mln dollars

The assets of SOFAZ as at January 1, 2012 has grown by 30.9 % compared to the beginning of 2011 (USD22 766.8 mln.) and stood at USD 29 800.0 mln or 23431.7 mln manats.


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