oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

SOFAZ 2007 budget amended

02 Jul 2007 04:54:00

SOFAZ 2007 budget amended

02 Jul 2007 04:54:00

The 2007 budget of the State Oil Fund of Azerbaijan (SOFAZ) was amended by the Decree of the President of Azerbaijan of June 28, 2007.

As per the amendments, the Fund's 2007 budget is to include an additional expenditure items of AZN 50 000,0 related to financing Baku-Tbilisi-Kars railway and AZN 88 500,0 related to regulating some issues on the State Oil Company's share in the projects on joint using Azeri, Chirag and Guneshli oilfields. The amount of expenditures of the Fund are increased to AZN 1 115 566, 9 instead of the previous AZN 977 066, 9.

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