Baku: The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has transferred a total of AZN 155,931.9 million to the state budget as of January 1, 2025.

According to Azeri-Press News Agency, within the framework of the execution of SOFAZ’s 2024 budget, a total of AZN 12,781 million was transferred to the state budget last year. As of December 31, 2024, SOFAZ’s assets amounted to USD 60,031.4 million, marking a 7.1% increase compared to the beginning of 2024 when assets were recorded at USD 56,069.7 million.

SOFAZ, founded on December 29, 1999, is a special institution that ensures the collection, efficient management, and preservation of oil and gas revenues for future generations. It operates as an off-budget, separate state institution with transparency as one of its main principles. Over the years, SOFAZ has developed at a high institutional level and has become an international financial organization.