SOFAZ 2018 budget amended -

SOFAZ 2018 budget amended

The 2018 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was amended by the Decree of the President of Azerbaijan dated July 17, 2018.
According to the Decree, for the purpose of specify the revenues and expenditures of SOFAZ’s 2018 budget the revenues of the Fund from the sale of the Republic of Azerbaijan's share of hydrocarbons has increased to 13 307 411.0 thousand manats from the previously stated 9 723 786.1 thousand manats, revenue item on acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources has increased to 4 080.0 thousand manats from the previously stated 3 612.0 thousand manats, revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan has increased to 17 370.0 thousand manats from the previous 16 340.0 thousand manats, revenue item on SOFAZ's asset management has increased to 1 216 734.8 from the previous 1 042 046.1 thousand manats, revenues on oil and gas agreements signature or performance bonuses paid by investors has increased to 765 228.1 thousand manats from the previous 774 172.0 thousand manats. The total revenue of SOFAZ’s 2018 budget, therefore, has increased from 11 559 956.2 thousand manats to 15 310 823.9 thousand manats.
According to the Decree, the highest limit of the transfer payment to the 2018 state budget of the Republic of Azerbaijan has increased from 9 216 000.0 thousand manats to 10 966 000.0 thousand manats.
The total expenditures of SOFAZ’s 2018 budget has increased from the previously stated 9 730 221.8 thousand manats to 11 480 221.8 thousand manats.

 

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SOFAZ 2017 budget execution approved

 

The President of the Republic of Azerbaijan approved by his Order dated July 17, 2018 the execution of the 2017 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).

As per the Order, SOFAZ’s revenues were executed with 12 137 503.3 thousand manats and expenditures in the amount 11 015 537.9 thousand manats.

 

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