BAKU, Azerbaijan, April 17. The Azerbaijan Republic State Oil Fund (SOFAZ) generated two billion manat ($1.18 billion) of revenue from the Azeri-Chirag-Gunashli (ACG) field in the first quarter of 2025.
Data obtained by Trend from SOFAZ shows that this figure decreased by 459 million manat ($270 million) or 18.7 percent compared to the same period last year (2.46 billion manat or $1.45 billion).
In the first quarter of this year, the fund's revenues from oil and gas agreements totaled 3.02 billion manat ($1.78 billion), including 2.25 billion manat ($1.3 billion) from profit oil and gas sales, and 765 million manat ($451 million) from bonus payments and transit revenues.
SOFAZ's mandate encompasses the aggregation of fiscal inflows derived from finite natural assets, to transform these into a sustainable revenue stream for both current and prospective cohorts of Azerbaijan's populace. The primary objective in the establishment of SOFAZ was to facilitate the strategic and optimized governance of the nation's hydrocarbon assets.
The fund's activities are aimed at maintaining macroeconomic stability in the country, ensuring financial and tax discipline, reducing dependence on oil revenues, promoting the development of the non-oil sector, financing major national projects for the country's socio-economic development, and, considering that oil and gas are non-renewable natural resources, ensuring that the revenue generated from them is shared equally among generations while accumulating reserve funds for future generations.
