Azerbaijan’s State Oil Fund assets rise 0.6% to $74 billion

The State Oil Fund of Azerbaijan (SOFAZ) recorded revenues of 12.3413 billion manats and expenditures of 9.6812 billion manats in January-September 2026. Transfers to the state budget totalled 9.628 billion manats, the fund said.

As of October 1, SOFAZ’s assets stood at $74.004 billion, up 0.6% from January 1, 2026.

Oil and gas revenues amounted to 8.7406 billion manats during the reporting period, while income from asset management reached 3.6007 billion manats.

In the first nine months of the year, proceeds from the sale of profit oil and gas totalled 7.3439 billion manats. Bonus payments and transit revenues amounted to 0.9 million manats, while acreage payments brought in 4.9 million manats.

The bulk of the fund’s oil and gas revenues came from the Azeri-Chirag-Gunashli and Shah Deniz fields. Receipts from Azeri-Chirag-Gunashli amounted to 6.5706 billion manats, while Shah Deniz generated 565.1 million manats.

The fund’s extra-budgetary expenses related to changes in gold prices and foreign exchange rate differences totalled 1.874 billion manats.

During the reporting period, SOFAZ allocated 3.6 million manats to the 2019–2023 State Programme to increase the international competitiveness of the higher education system, 21.9 million manats to the 2022–2028 State Programme supporting young people studying at prestigious foreign universities, and 2.2 million manats to international dual-degree programmes.

The fund’s administrative expenses amounted to 25.5 million manats.

Gulnar Nazimqizi