SOFAR

‘Gala Insurance’ company has won an open tender for voluntary medical insurance of employees of the State Oil Fund (SOFAZ) in 2025.This is reported on the unified Internet portal of state procurement.

The Government of Azerbaijan forecasts that in 2025 the revenues of the State Oil Fund (SOFAZ) will amount to AZN 14,452.5 million and budget expenditures to AZN 14,640.2 million.

The State Oil Fund (SOFAZ) sold foreign exchange worth $6,494 million in January-November 2024.This was reported by the Fund.

From January to October this year, the State Oil Fund of Azerbaijan (SOFAZ) earned $416.174 million from the development of the “Shah Deniz” gas field in Azerbaijan’s sector of the Caspian Sea. Accord...

Executive director of the State Oil Fund (SOFAZ) Israfil Mammadov has been elected deputy chairman of the board of the International Sovereign Fund Forum.This is reported by the Fund.

The main reason for the sharp - 2.6 times as compared to the same period of 2023 - rise in foreign currency sold by the State Oil Fund (SOFAZ) in January-October 2024 is the needs of the state. Expert...

In January-October 2024, the State Oil Fund (SOFAZ) sold foreign currency worth $5,919.4 million. This was reported by the Fund.

As of September 30, 2024, the assets of the State Oil Fund of Azerbaijan (SOFAZ) have increased by 9.4% compared to the beginning of 2024. According to SOFAZ's report, the Fund's assets reached $61.7...