Azerbaijan , Baku /corr. Trend I. Khalilova/ According to the calculations made by the National Bank of Azerbaijan (NBA) and State Oil Fund of the Country (SOFAZ), the repatriation of direct investments from large oil companies through reducing the foreign obligations in the oil sector within "The Contract of the century" is expected to be completed not later than 2009, Trend reports.
Elman Rustamov, the Chairman of the Board of NBA, said during the meeting of the Caspian Integration Business Club, that up to date, the investments to the oil sector have been returned at a rate of over 70%. They may be fully paid within a couple of years.
Mr. Rustamov suggests that Azerbaijan revenues gained from sale of profitable oil after the investments are repatriated, will reach 80%. The acceleration of the process on return of investments became available due to the increase in the weight of the oil sector in the economy of the country. The growth of production in the oil sector is expected to be at a rate of 65%, which is stipulated for the implementation of different large-scale oil projects recently.