oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

SOFAZ Revenue and Expenditure Statement for July 10, 2001

10 Jul 2001 11:00:00

SOFAZ Revenue and Expenditure Statement for July 10, 2001

10 Jul 2001 11:00:00
The State Oil Fund of the Republic of Azerbaijan informs that as at June 30, 2001 the Fund's held assets of US$368,546,000. Of this sum US$270,965,000 was deposited with the Fund on January 4, 2001 from a special bank account of the State Oil Company of the Republic of Azerbaijan and constituted its opening balance. The additional sum of US$97,581 comprising of US$89,782 as income from the sale of profit oil, acreage fees (royalties), transit fees and property rents, with a further US$7,799 as revenue generated from management of the Fund's assets.

The Fund's operational expenditure, including staffing costs, totaled US$35,000.

According the financial statement of June30, 2001 the Fund held a balance of US$368,511,000.

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