The 2017 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was amended by the Decree of the President of Azerbaijan dated October 4, 2017.

According to the Decree, for the purpose of specify the revenues and expenditures of SOFAZ’s 2017 budget the revenues of the Fund from the sale of the Republic of Azerbaijan's share of hydrocarbons has increased to 9 826 212.0 thousand manats from the previously stated 7 550 705.3 thousand manats, revenue item on acreage fees paid by foreign investors for use of the contract areas for the development of hydrocarbon resources has increased to 3 605.5 thousand manats to the previously stated 3 465.0 thousand manats, revenues from transportation of oil and gas through the territory of the Republic of Azerbaijan has increased to 17 688.5 thousand manats to the previous 16 830.0 thousand manats, revenue item on SOFAZ's asset management has increased to 963 948.0 to the previous 799 094.6 thousand manats, revenues on oil and gas agreements signature or performance bonuses paid by investors has increased to 2 407.6 thousand manats to the previous 495.0 thousand manats. The total revenue of SOFAZ’s 2017 budget, therefore, has increased from 8 370 589.9 thousand manats to 10 813 861.6 thousand manats.

The total expenditures of SOFAZ’s 2017 budget has increased from the previously stated 14 483 856.0 thousand manats to 15 242 928.0 thousand manats.

The expenditure item related to financing the improvement of social condition of refugees and IDPs has increased from 90 000.0 thousand manats to 105 000.0 thousand manats. The additional expenditure item of 744 072.0 thousand manats, related to financing of the share of Azerbaijan Republic in the construction of the STAR oil refinery project in Turkey has been included to the Fund's 2017 budget.