The assets of SOFAZ amount to approximately $73 billion

The assets of the State Oil Fund of Azerbaijan (SOFAZ) as of July 1 of the current year amounted to $72 billion 596 million, which is 1.3% less compared to January 1.

This is reported by BAKU.WS with reference to the Fund.

According to the information, in January-June the budget revenues of SOFAZ amounted to 8 billion 531.3 million manats, including oil and gas revenues of 4 billion 953.4 million manats, and revenues from asset management of 3 billion 577.9 million manats. The fund's budget expenditures amounted to 6 billion 447.9 million manats. The organization's off-budget expenditures related to changes in gold prices and exchange rate differences on currencies amounted to 3 billion 688.1 million manats.

During the 6 months, SOFAZ received 4 billion 947.6 million manats from the sale of profit oil and gas, 0.9 million manats from bonus payments and transit, and 4.9 million manats in revenue from acreage payments. The fund received funds from the "Azeri-Chirag-Gunashli" field in the amount of 4 billion 374.9 million manats, and from the "Shah Deniz" field — 437.1 million manats.

During the reporting period, SOFAZ transferred a budget transfer of 6 billion 420 million manats to the state budget, allocated 2.1 million manats for the financing of the "State Program on Enhancing the International Competitiveness of the Higher Education System for 2019–2023," 12.3 million manats for the financing of the "State Program on the Education of Youth at Prestigious Higher Education Institutions of Foreign Countries for 2022–2028," and spent 15.4 million manats on management.