The World Bank has forecast revenue in amount of $340 bln that will be received by Azerbaijan over the next 20 years from the exploitation of the oil and gas fields and pipeline (taking into consideration operation expenses).
Such revenue is expected under the approximate prices for oil at $43 per barrel, Trend reports with reference to the Strategy of Partnership with Azerbaijan (2007-2010) announced by the Bank.
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Deducting the operation expenses in the amount of $65 bln, the fiscal revenue of Azerbaijan will amount to $175 bln. Of this, nearly $20 bln will enter the State budget as profit tax and $155 bln to the State Oil Fund of Azerbaijan as royalties.
The oil consortiums plan to repatriate the invested $40 bln and their profits. According to initial accounts, over the next 20 years the oil revenue will total $1,000 per capita annually. If new oil and gas fields are not explored, it will mean the end of the oil boom in Azerbaijan, stated in the report.
According to WB experts, the key task of Azerbaijan, in its transition from post-soviet administration system to the market economy, is to ensure accurate management of the changing and short-term revenues and not to face the Holland Syndrome and damnation of resources.