Baku, Azerbaijan, Sept. 22
By Maksim Tsurkov – Trend:
Cash receipts to accounts of Azerbaijan’s state oil company SOCAR in authorized banks, together with funds for profitable oil and gas that account for the State Oil Fund of Azerbaijan (SOFAZ), exceeded 15.6 billion manats in January-August 2017, says an article by Suleyman Gasimov, SOCAR vice-president for economic issues, published in a special issue of the Iki Sahil newspaper.
According to him, 918.45 million manats out of this amount were obtained from exports of oil (excluding Azerbaijan’s profitable oil under PSA), gas, oil and gas processing and petrochemical products, and more than 2.44 billion manats account for revenues from sales in the domestic market.
Meanwhile, SOCAR paid SOFAZ almost 7.76 million manats obtained from the sale of hydrocarbons, accounting for the share of state in various projects.
“In 2016, cash receipts to accounts of Azerbaijan’s state oil company SOCAR in authorized banks, together with funds for profitable oil and gas that account for the State Oil Fund of Azerbaijan (SOFAZ), exceeded 17.17 billion manats. Some 1.23 billion manats out of this amount were obtained from exports of oil (excluding Azerbaijan’s profitable oil under PSA), gas, oil and gas processing and petrochemical products, and more than 3 billion manats account for revenues from sales in the domestic market,” says the article. “Meanwhile, SOCAR paid SOFAZ 8.45 million manats obtained from the sale of hydrocarbons, accounting for the share of state in various projects.”
SOCAR includes such production associations as Azneft (enterprises producing oil and gas onshore and offshore), Azerikimya (chemical enterprises) and Azerigas (distributor of gas), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.
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