Azerbaijan, Baku, April 28 / Trend E.Ismayilov /
Revenues of the State Oil Fund of the Azerbaijan Republic (SOFAZ) amounted to 2.754 billion manat with costs of 1 292.3 million manat in January-March, the fund reported.
The bulk of the proceeds fell to oil and gas sales. Income from oil contracts amounted to 2.704 billion manat, including oil and gas profit sales at 2.702 billion manat.
During the reporting period, income from assets transferred by foreign investors amounted to 0.3 million manat. SOFAZ received 50 million manat from managing the funds received in 2009.
Expenditures in the amount of 2.9 million manat were directed to financing the improvement of social refugee and IDP condition, 23.2 million manat and 36.5 million manat were used for financing the reconstruction of the Samur-Absheron Irrigation System and the construction of the Oghuz-Gabala-Baku Water Supply System.
The fund's administrative and operational expenses in this period were 2.8 million manat.
SOFAZ assets as of April 1, 2010 have grown by 9.1 percent compared to the beginning of 2010 to 13.049 billion manat.
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