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Azerbaijani Taxes Ministry publicizes amount of revenue's from oil and gas projects over past 10 years

Oil&Gas Materials 31 March 2010 15:26 (UTC +04:00)

Azerbaijan, Baku, March 31 / Trend E.Ismayilov /

Over the past 10 years, the Azerbaijani state budget received over 8 billion in the form of taxes from taxpayers who work within the country's oil and gas projects, Ministry's Revenue Service Department of Special Regime Head Zaur Fati-zadeh said in an interview with the Vergilar newspaper.

He said the payments were made by taxpayers, working within the PSA contract of the main export pipeline Baku-Tbilisi-Ceyhan and other contracts of this kind.

Previously Head of the State Oil Company of Azerbaijan Republic (SOCAR) Rovnag Abdullayev said, since 1994, Azerbaijan has signed 26 PSA contracts. During this time, over $37 billion was invested in the country's oil and gas industry.

Today, about 34 companies representing 15 countries operate in Azerbaijan's oil and gas industry. The cooperation with them allowed to implement such major projects as the development of Azeri-Chirag-Guneshli and Shah Deniz fields, the construction of the Baku-Tbilisi-Ceyhan, South Caucasus gas pipeline, and others.

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