October 12, 2016 / 12:57 PM / a year ago

Azeri state oil fund SOFAZ sees assets at $35 bln in 2017

BAKU, Oct 12 (Reuters) - Azerbaijan’s state oil fund SOFAZ expects its assets value to reach $35 billion in 2017, Shakhmar Movsumov, the fund’s executive director, said on Wednesday.

SOFAZ, which holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue, sees its assets at $34 billion by the end of 2016, Movsumov told reporters earlier on Wednesday. (Reporting by Nailia Bagirova; Writing by Maria Kiselyova; editing by Vladimir Soldatkin)

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