Azerbaijani State Oil Fund announces assets increase forecasts

Over the next 10-15 years, the State Oil Fund's (SOFAZ) assets will reach $ 200 billion, SOFAZ Chief Shahmar Movsumov said in an interview with The business year,Trend reports.

He said that, according to forecasts, SOFAZ assets will reach a level of $ 34 billion by the end of 2012, compared to $ 29.8 billion last year.

"This forecast is made based on the rate of $ 100 per barrel of oil," Movsumov said.

SOFAZ head noted that the amount of transfers to the state budget from the State Oil Fund this year will be $ 12.5 billion.