Budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-December, 2005 reached 660, 0 million manats-AZN, while budget expenditures constituted AZN 233,0 million.

Revenue of AZN 567,3 mln. was received from implementation of oil and gas agreements including AZN 542,6 mln. from the sale of profit oil, AZN 15,6 mln. as transit fees, AZN 0,9 mln. as bonus payments, AZN 8,2 mln. as acreage payments and AZN 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 AZN 27, 9 mln.. In addition, AZN 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 AZN 40,4 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. AZN 41,0 mln. was utilized for the financing of AzBTC Co.’s share in Baku-Tbilisi-Ceyhan pipeline project and AZN 150,0 mln. was transferred to the State Budget. The Fund's administrative and operating expenses in 2005 were AZN 1,6 mln.

The Fund's extra-budgetary expenditures and payments in 2005 were AZN 91, 9 mln.), including asset revaluation expenses of AZN 88, 4 mln). The Fund paid out AZN 3, 5 mln. as profit tax.

Net return on the Fund’s assets in 2005 constituted -5.69% in the Fund’s reporting currency (AZM) and 2.79 % in the Fund’s base currency (USD).

The assets of SOFAZ as at January 1, 2006 stood at AZN 1 280, 4 mln.(approx.USD 1,394 million.)