Amount of AIOC Transfers in First Half Year Announced
Azerbaijan, Baku /corr. Trend I.Khalilova / In the second quarter of 2007, the transfers by Azerbaijan International Operating Company (AIOC), operator of the development of Azeri-Chirag-Guneshli fields, to the State budget as profit tax amounted to more than $713 mln (AZN 610 mln), a decrease of AZN 40mln from the forecasted amount, a Government source stated. The average oil prices in the second quarter totaled $68.2 per barrel.
In the first quarter, AIOC transferred AZN 499 mln, more than forecast due to high oil prices. Accordingly AZN 1109 mln has already been transferred to the budget in the first half year. In 2006 AIOC transferred AZN 1216.9 mln. The average oil price in 2006 amounted to $59.7