Azerbaijan’s state budget revenues from oil sector announced

Some 12.781 billion manats ($7.52 billion), or 74.5%, of the revenues of the state budget of Azerbaijan on the oil sector will be transferred from the State Oil Fund, and 4.383 billion manats ($2.58 billion), or 25.5%, from the oil sector through the tax authorities, Report informs, citing the Finance Ministry.

The transfers from the State Oil Company of Azerbaijan (SOCAR) are expected to amount to 2 billion manats ($1.18 billion), the profit tax on the Azeri-Chirag-Gunashli (ACG) project within the framework of the Production Sharing Agreements operating in the oil and gas field - 370 million manats ($217.65 million), and the profit tax on the Shahdeniz field will amount to 1.605 billion manats ($0.94 billion).