In late 2006 the assets of the State Oil Fund of Azerbaijan (SOFAR) will be equal to the assets for late 2005 ($1,394m). It is related to the expenditure of the SOFAR, Trend reports quoting Samir Sharifov, the head of SOFAR.
According to Sharifov, incomes of SOFAR were forecasted lower than expenses, but incomes will exceed expenses due to rise in oil prices (it was set at $40 in the forecast).
In 2006 SOFAR will finance some infrastructure projects, including, construction of the Oghuz-Gabala-Baku water channel (90m AZN), Taktakorpu channel (37m AZN), as well as transfer 90m AZN for statutory capital of the State Investment Company.
On 5 April the price of AZERI LT CIF comprises $66.66 per barrel, URAL (EX-NOVO) - $61.06 per barrel, Brent (DTD) - $66.82 per barrel.