oil fund




State Oil Fund of the Republic of Azerbaijan (SOFAZ) has gained high recognition within the international community as a safe and reliable partner and its activities have been highly valued by reputable organizations worldwide as a result of its transparent operations.

United Nations Public Service Award

The United Nations (UN) 2007 Public Service Awards presentation ceremony took place on June 26, during the 7th Global Forum on Reinventing Government on the theme of “Building Trust in Government” held on June 26 - 29, 2007 at the UN headquarters in Vienna, Austria. The United Nations Public Service Award (UNPSA) - the Trophy and Certificate for “Improving Transparency, Accountability and Responsiveness in the Public Service” was handed out by Ms. Asha -Rose Migiro, the UN Deputy Secretary-General to Mr. Shahmar Movsumov, the Executive Director of SOFAZ.

The UN Public Service Award is the most prestigious international recognition of excellence in public service. Established in 2003, it rewards the creative achievements and contributions of public service institutions that lead to a more effective and responsive public administration. The UN General Assembly, in its Resolution dated March 7, 2003, designated 23 June as Public Service Day.

SOFAZ is the first governmental agency among organizations of the Eastern Europe and CIS countries to receive the UNPSA.

EITI Award 2009

Azerbaijan joined the Extractive Industries Transparency Initiative (EITI) in 2003 and became the country which made first steps in many fields of this activity. Considering that Azerbaijan has instituted a regular process of disclosing, reconciling and publishing company payments and government receipts and became the first country to complete the validation, the EITI's quality assurance process which verifies compliance with EITI principles and criteria, the EITI Board designated Azerbaijan as EITI Compliant country at the 4th EITI International Conference held on February 16-18, 2009 in Doha, Qatar. Thereby, Azerbaijan became the first EITI Compliant Country among other candidate countries. “EITI Award 2009” was awarded to Azerbaijan for the commitment to EITI principles and criteria and its achievements in EITI Implementation.