By the end of the year, the assets of the State Oil
Fund of Azerbaijan (SOFAZ) will be at least $30bn, its CEO Shahmar
Movsumov has said.
He noted that the fund has not yet executed all transfers to the state
budget envisaged for that year: "After the transfers, the SOFAZ assets
will be at least $30bn".
Movsumov also said that if the oil price next year makes up $80 per
barrel, the SOFAZ assets in 2012 will remain changeless at $30bn.
"The increase in assets is possible only in case of the rise in oil price", SOFAZ CEO said.
As of 1 October 2011, SOFAZ assets amounted to $32,242,500,000 which is a growth of 41.6% over 1 January ($22,766,800,000).
As of early 2010, the fund’s assets amounted to $14,900,400,000.
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