Azerbaijan, Baku, 25 January / Trend corr. I.Khalilova / The transition to the new stage of division of incomes from oil among the foreign oil companies and State Oil Company of Azerbaijan (SOCAR) within the Azeri-Chirag-Gunashli project is expected in the end of 2008 and at the beginning of 2009, Shahmar Movsumov, SOCAR executive director, stated on 25 January.
Under the changes, 80% of incomes from the project will remain Azerbaijan, and 20% will be transferred to foreign partners.
According to Movsumov, the Azerbaijan's share in the division of the incomes made up 25% in 2007, but the sum has increased by 50% since 1 January 2008.
"The transition to the third stage depends on oil price, but Azerbaijan's share in oil incomes is forecasted to increase in the near future," Movsumov said.
According to the pessimist forecasts, the fund's stocks will increase by 2bln manat taking into consideration the incomes in the amount of 3.6bln manat and expenditures - 1.6bln manat by the end of 2008. The forecast was developed taking into consideration the oil prices of $50 per 1 barrel. However, an additional $5bln is expected to gain, SOCAR head reported.
"The number of oil delivery depends on most parameters, including dead-weight of tankers," Mopvsumov said.
As for 24 January, price for Azeri Light oil, produced from the Azeri-Chirag-Gunashli filed made up $88.88 per barrel. The price reached $100 per barrel in 2007.
