BAKU, Azerbaijan, November 3. Azerbaijan’s sovereign wealth fund, SOFAZ, reported total transfers of 180.04 billion manat ($105.9 billion) to the state budget through the end of the third quarter of 2026. The milestone figures were disclosed in the fund's period-end financial disclosure.
From January through September 2026, the fund's budget expenditures amounted to 9.68 billion manat ($5.69 billion). Of this amount, 9.6 billion manat ($5.66 billion) was transferred to the state budget.
The assets of SOFAZ amounted to $74 billion or 125.8 billion manat as of September 30, 2026.
According to the report, the fund's assets increased by $462 million (786 million manat) compared with the beginning of 2026. At the start of the year, SOFAZ's assets stood at $73.5 billion (125 billion manat).
During the reporting period, the fund's total revenues amounted to 12.34 billion manat ($7.26 billion). Of this amount, 8.74 billion manat ($5.14 billion) came from revenues related to oil and gas projects, while 3.6 billion manat ($2.1 billion) was generated from asset management.
The bulk of revenues from oil and gas projects came from the sale of profit oil and gas. Receipts from this source amounted to 7.3 billion manat ($4.3 billion). Bonus payments and transit revenues totaled 900,000 manat ($529,412), while acreage fees amounted to 4.9 million manat ($2.88 million). In addition, 1.39 billion manat ($818.2 million) was received from the sale of the state's stake in the Southern Gas Corridor CJSC.
According to SOFAZ, during the reporting period, 6.57 billion manat ($3.86 billion) was received from the Azeri-Chirag-Gunashli (ACG) field, while 565.1 million manat ($332.4 million) came from the sale of gas and condensate from the Shah Deniz field.
At the same time, the fund allocated 27.7 million manat ($16.3 million) to finance ongoing state programs and projects. Of this amount, 3.6 million manat ($2.1 million) was allocated to the State program to increase the international competitiveness of Azerbaijan's higher education system for 2019-2023; 21.9 million manat ($12.9 million) to the State program on education of Azerbaijani youth at prestigious higher education institutions abroad for 2022-2028; and 2.2 million manat ($1.3 million) to international dual-degree programs.
During the reporting period, SOFAZ's management expenses amounted to 25.5 million manat ($15 million). In addition, changes in gold prices and foreign exchange rates resulted in an off-budget expense of 1.87 billion manat ($1.1 billion).
The State Oil Fund of Azerbaijan was established by a presidential decree dated December 29, 1999. Its primary objective is to ensure the accumulation and effective management of revenues and other funds generated from the exploration and development of the country’s oil and gas reserves, as well as from the fund’s own activities, in the interests of present and future generations of Azerbaijani citizens.
