In accordance with the "Regulations on the State Oil Fund of the Republic of Azerbaijan" approved by Decree No. 434, dated December 29, 2000, of the President of the Republic of Azerbaijan, and the "Rules on the preparation and execution of the annual program of revenues and expenditures (budget) of the State Oil Fund of the Republic of Azerbaijan" approved by Decree No. 579, dated September 12, 2001, report on 2013 budget execution presented.
Taking into consideration the opinion of the Supervision Board and the results of an audit of State Oil Fund's financial operations conducted by a reputable international audit organization, according to the article 109, paragraph 32 of the AR Constitution it is hereby decreed:
To approve of the execution of the budget of the State Oil Fund of the Republic of Azerbaijan for the year 2013 including 13 600400.1 thousand manats in revenues and 12 302663.5 thousand manats in expenditures. 2013 budget revenues and expenditures of the Fund were executed accordingly 118.5% and 94.5%.
Amount (in thousand manats)
Proceeds from sales of the Republic of Azerbaijan's share of hydrocarbons (deducts the costs of hydrocarbons transportation, banking expenses, customs clearences, independent surveyor, marketing and insurance costs, and also exclusive of the revenues from the SOCAR's share in the projects of which it is an investor, shareholder or partner)
Acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources
Revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan
Bonuses paid by investors when signing and fulfilling oil and gas agreements
Revenues from SOFAZ's asset management
Other revenues and incomes
Financing the improvement of the social and economic conditions of refugees and internally displaced persons
Transfer to 2013 State Budget of the Republic of Azerbaijan
Financing the reconstruction of the Samur-Absheron irrigation system
Financing new "Baku-Tbilisi-Kars railway" construction project
Financing the "State Programme on the Education of Azerbaijani Youth abroad in the years 2007-2015"
Financing of the share of the Republic of Azerbaijan in the construction of “STAR” Oil Refinery Complex in Turkey
Administrative expenses of the State Oil Fund of the Republic of Azerbaijan
The President of the Republic of Azerbaijan
Baku, May 22, 2014