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Sovereign Wealth Funds Briefing - Categorized | Financials, Trends

SOFAZ to obtain about $100bln in next 20 years

Posted on 25 November 2016

Azerbaijan’s state oil fund SOFAZ, which accumulates and manages oil and gas revenues of the resource-rich country, is projected to get some $100 billion from the sale of oil and gas in the next 15-20 years.
SOFAZ Executive Director Shahmar Movsumov, addressing a banking conference in Baku on November 24, said that regardless a significant drop in oil prices, the country continues production and export of oil, therefore it will further receive oil revenues. He noted that the Fund has so far received some $120 billion of oil revenues………………………………….Full Article: Source


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