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Head of Azeri Oil Fund considers that funds from profitable oil taxes must be incorporated in SOFAR

Oil&Gas Materials 15 October 2005 13:01 (UTC +04:00)

The considerable part from profitable oil taxes to be paid by foreign oil companies must be incorporated in the State Oil Fund of Azerbaijan (SOFAR), Samir Sharifov, the Executive Director of the SOFAR, said to journalists on Saturday, trend reports.

According to Sharifov, foreign companies will start to pay profitable oil taxes within the Contract of the Century, signed on development of oil fields Azeri-Chirag-Gunashli. The party of the funds has come in the public budget.

“We don’t expect big funds from the sphere in 2006, but the government may direct the funds to the SOFAR in the future,” Sharifov said.

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