A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on July 25, 2013. The meeting chaired by Mr. Artur Rasi-zadeh, Prime Minister of the Republic of Azerbaijan and Chairman of the Supervisory Board discussed the Fund's annual report and audited financial statements for the year of 2012, a report on execution of the budget of the Fund for the year 2012.

The Supervisory Board approved the SOFAZ's 2012 annual report and Auditor's (Ernst & Young) Report as submitted by the Executive Director of the Fund. While endorsing the Oil Fund's 2012 budget execution the Supervisory Board recommended this document for the approval by the President of the Republic of Azerbaijan.

Prime Minister Artur Rasi-zadeh was re-elected as the Chairman-in-office of the Supervisory Board.