By the Decree of the President of the Republic of Azerbaijan dated June 22, 2023, amendments were made to the 2023 budget of the State Oil Fund of the Republic of Azerbaijan (SOFAZ).

In accordance with the Decree, the income item on the net income from the sale of hydrocarbons falling on the share of the Republic of Azerbaijan has been increased from AZN 6,571,387.3 thousand to AZN 11,765,793.3 thousand, the income item related to the income from the transfer of oil and gas through the territory of the Republic of Azerbaijan was reduced from AZN 23,590.0 thousand to AZN 15,323.3 thousand, the income item related to the income from the placement and management of SOFAZ's foreign currency assets was increased from AZN 1,590,905.4 thousand to AZN 3,752,026.1, the income item related to the acreage payments paid by investors for the use of the contract area in connection with the development of hydrocarbon reserves was reduced from AZN 4,307.8 thousand to AZN 3,600.6 thousand.

According to the decree, the expenditure item on the upper limit of the transfer to the state budget of the Republic of Azerbaijan for 2023 in the spending directions of the SOFAZ budget for 2023 has been increased from AZN 11,280,000.0 thousand to AZN 11,737,700.0 thousand.