oil fund

STATE OIL FUND OF THE REPUBLIC OF AZERBAIJAN

Mission and Objectives

Mission and Objectives

Mission

The mission of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) is to transform depletable hydrocarbon reserves into financial assets generating perpetual income for current and future generations.

oil fund

Objectives

The main goal of the establishment of SOFAZ is to accumulate and efficiently manage oil revenues.

SOFAZ's activity is directed to the achievement of the following objectives:

Preserving macroeconomic stability, ensuring fiscal-tax discipline, decreasing dependence on oil revenues and stimulating development of the non-oil sector

Ensuring inter-generational equality with regard to the country's oil wealth and accumulate and preserve oil revenues for future generations

Financing major national scale projects to support socio-economic progress