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Sovereign Wealth Funds Briefing - Categorized | Performance

Azerbaijan Oil Fund’s assets totals $34.7 bln

Posted on 18 July 2013

For the 1st half-year the State Oil Fund of Azerbaijan (SOFAZ) had budget net surplus at AZN 935.2 million. According to SOFAZ, in the 1st half year it received AZN 6.7 bn of revenue and made AZN 5.791 bn of expenditures. Due to that, SOFAZ assets for the quarter increased by 1.6% - from $34.129 bn up to $34.678 bn.
The basis of revenue for the half-year were proceeds from oil and gas production PSA contracts for AZN 6.488 bn, including revenue from sale of profit oil and gas for AZN 6.482 bn. Another AZN 1.7 million were brought to Fund’s budget by revenues from the management of its assets. Transit fee provided AZN 3.9 million, bonus AZN 300,000, sale of assets transferred by foreign companies AZN 40,000. Revenue of the fund on management of funds for such term totaled AZN 237.7 million………………………………………..Full Article: Source


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