According to the Article 109, paragraph 32 of the Constitution of the Republic of Azerbaijan and considering paragraph 2.1 of the Ordinance No.287 of the President of the Republic of Azerbaijan on “Actions related to projects on Phase II of development of Shah-Deniz gas-condensate field and establishment of Southern Gas Corridor” dated February 25, 2014,it is hereby decreed:

1.To make following amendments to the Decree No. 57 of the President of the Republic of Azerbaijan on “Approval of the Budget of the State Oil Fund of the Republic of Azerbaijan for 2014” dated December 19, 2013 (Compilation of the legislation acts of the Republic of Azerbaijan, 2013, №12, article 1524):

1.1.To replace the figure "11 349 934,8" with the figure "10 590 034,8" in the first part;

1.2.To edit the table in paragraph 3 of the Decree as follows:

1.2.1. To edit the paragraph 3.9 as follows;

1.2.2. To replace the figure "11349934.8" with the figure "10590034.8" in the row stipulating the total amount of the expenditures;

1.3.To edit the paragraph 1.9. of “The main utilization directions (program) of the assets of the State Oil Fund of the Republic of Azerbaijan for the year 2014” as follows:

“1.9.Financing of shares belonging to the state in thejoint-stock company for effective management of the projects within phase II of the Shah-Deniz gas and condensate field's development, Trans Anatolian Gas Pipeline (TANAP), Trans Adriatic Pipeline (TAP) and expansion of the South Caucasus Pipeline”.

2.State Oil Fund of the Republic of Azerbaijan should resolve issues arising from this Decree.

Ilham Aliyev

President of the Republic of Azerbaijan

Baku, April 10, 2014