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Preliminary amount of net profits of AzBTC from BTC defined

Oil&Gas Materials 30 August 2006 17:32 (UTC +04:00)

According to the initial calculations, the region countries will receive $2.104 billion in income tax from the exploitation of Baku-Tbilisi-Ceyhan pipeline by 2027. The vise-president of the State Oil Company of Azerbaijan (SOCAR) Shahin Mustafayev said that $625 million out of this amount will come to the share of Azerbaijan, $517 mln. Georgia and $961 mln. Turkey, Trend reports with reference to the newspaper Taxes.

According to the calculation model, the partners on BTC are expected to receive revenues in amount of $9.123 billion from the operation activities. Azerbaijan hold 25% participation share in the project. Besides, 30% share of AzBTC Limited that represents Azerbaijan belongs to SOCAR and 70% to the Ministry of Economic Development. The net profits that will be obtained by AzBTC Limited are estimated at nearly $2.281 billion.

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