Revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-September, 2005 reached 2210, 2 billion manats-AZM (442 million new Azerbaijan manats- AYM), while budget expenditures constituted AZM 667, 6 billion (AYM 133,5 mln).

Revenue of AZM 1787,8 bln. (AYM 357, 5 mln.) was received from implementation of oil and gas agreements including AZM 1716,8 bln. (AYM 343, 4 mln.) from the sale of profit oil, AZM 60,2 bln. (AYM 12,0 mln.) as transit fees, AZM 4, 6 bln. (AYM 0,9 mln.) as bonus payments, AZM 6,2 (AYM 1,2 mln.) as acreage payments and AZM 7,3 bln. (AYM 1,5 mln.) from sale of assets received from foreign companies under oil agreements. The revenues from managing assets of the Fund for the reporting period amounted to AZM 98, 6 billion (AYM 19,7 mln.). In addition AZM 316, 5 bln. (AYM 63,3 mln.) was transferred to the Fund by the Ministry of Finance from the special stabilization account it has created to accumulate higher oil price tax surplus.

Expenditures of the Fund in the amount of AZM 162, 0 bln. (AYM 32, 4 mln.) were directed to finance, as per 2005 budget of the Fund, building of housing and improvement of socio-economic condition of refugees and internally displaced persons. AZM 45, 9 bln. (AYM 9,2) was utilized for the financing of AzBTC Co.'s share in Baku-Tbilisi-Ceyhan pipeline project and AZM 455,0 bln. (AYM 91 mln.) was transferred to the State Budget. The Fund's administrative and operating expenses in three months were AZM 4, 7 bln. (AYM 0,9 mln.).

The Fund's 9 months extra-budgetary expenditures were AZM 423, 1 bln. (AYM 84, 6 mln.), including asset revaluation expenses of AZM 405,7 bln.(AYM 81,1 mln). The Fund paid out AZM 17,4 bln. (AYM 3,5 mln.) as profit tax.

The assets of SOFAZ as at September 30, 2005 stood at AZM 5 846, 0 bln. (AYM 1 169 mln. and approx. USD 1, 273 million.)