As of October 1, the assets of the State Oil Fund of Azerbaijan (SOFAZ) amounted to nearly $70.162 billion, marking a 16.9% increase compared to January 1, SİA informs, citing the fund.
SOFAZ's budget revenues for January–September exceeded 13.073 billion manats (approximately $7.69 billion), while expenditures reached almost 10.92 billion manats (approximately $6.42 billion).
Over the nine-month period, the fund earned approximately 7.84 billion manats (approximately $4.61 billion) from oil and gas agreements, including nearly 7.07 billion manats (approximately $4.16 billion) from profit oil and gas sales; 765.3 million manats (approximately $450.8 million) from bonus payments and transit; 3.6 million manats (approximately $2.1 million) from acreage fees.
SOFAZ also received roughly 6.184 billion manats (approximately $3.64 billion) from the Azeri–Chirag–Gunashli field; 697 million manats (approximately $410 million) from the Shah Deniz field.
Moreover, income from asset management totaled nearly 5.24 billion manats (approximately $3.08 billion).
During the reporting period, the fund transferred over 10.86 billion manats (approximately $6.39 billion) to the state budget. It also sold $4.35 billion through auctions with the Central Bank of Azerbaijan.
SOFAZ allocated 8.2 million manats (approximately $4.8 million) to the 2019–2023 State Program for enhancing the competitiveness of higher education; 26.1 million manats ($15.4 million) to the 2022–2028 State Program for youth education abroad.
The fund further spent 22.9 million manats (approximately $13.5 million) for administrative expenses.
Additionally, SOFAZ recorded nearly 15.07 billion manats (approximately $8.86 billion) in off-budget income due to exchange rate fluctuations.
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