According to the paragraph 32, article 109 of the AR Constitution, for formation of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2013 and for efficient management of the Fund’s assets, it is hereby decreed:
1. To approve the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2013 including 11 482 040.4 thousand manats in revenues and 13 403 099.4 thousand manats in expenditures.
2. To define that the incomes of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2013 are formulated from the following revenues:
№ | Income sources | Amount |
2.1. | Proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (deducts the costs of hydrocarbons transportation, banking expenses, customs clearances, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner) | 11 171 072.0 |
2.2. | Acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources | 1 833.1 |
2.3. | Revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan | 9 223.8 |
2.4. | Revenues from SOFAZ's asset management | 287 448.1 |
2.5. | Bonuses paid by investors when signing and fulfilling oil and gas agreements | 11 963.4 |
2.6. | Other incomes according to the legislation | 500.0 |
Total | 11 482 040.4 |
3. To define that the expenditures of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2013 are assigned to the following purposes:
N | Directions of expenditures | Amount |
3.1 | Financing the improvement of social condition of refugees and IDPs | 300 000.0 |
3.2 | Transfer to 2013 State Budget of the Republic of Azerbaijan | 11 350 000.0 |
3.3 | Financing the reconstruction of the Samur-Absheron irrigation system | 107 438.0 |
3.4 | Financing new "Baku-Tbilisi-Kars railway" construction project | 138 274.5 |
3.5 | Financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015" | 34 056.0 |
3.6 | Financing of the construction of high speed fiber optic network providing an access to all settlements of Azerbaijan Republic. | 103 555.9 |
3.7. | Financing of the share of Azerbaijan Republic in the construction project of the Oil-Gas and Petrochemical Consortium (OGPC) | 211 950.0 |
3.8. | Financing of the share of Azerbaijan Republic in the construction of the STAR oil refinery project in Turkey | 596600.0 |
3.9. | Financing of the share of Azerbaijan Republic in the construction of the TANAP project | 86350.0 |
3.10. | Financing of the share of Azerbaijan Republic in the construction of new driling rig in the Caspian Sea | 388 575.0 |
3.11. | Administrative expenses of the State Oil Fund of the Republic of Azerbaijan | 86300.0 |
Total | 13 403 099.4 |
Ilham Aliyev,
The President of the Republic of Azerbaijan
Baku,December 30, 2012