The assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), as of April 1, 2024, reached $57 billion 373 million, the SOFAZ press service.
“In the first quarter of 2024, assets increased by 2.3 percent, or by $1 billion 303 million,” the Oil Fund reported.
At the beginning of 2024, SOFAZ’s assets amounted to 56 billion 7 million. As of April 1, 2023, SOFAZ’s assets amounted to 53 billion 438 million.
The Azerbaijan Oil Fund was established in December 1999, but it began functioning in June 2001. The Oil Fund accumulates income from the implementation of international oil and gas projects by Azerbaijan.
