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The '''State Oil Fund of the Republic of Azerbaijan''' ({{lang-az|Azərbaycan Respublikasının Dövlət Neft Fondu}}), also known by its abbreviation '''SOFAZ''', is a [[sovereign wealth fund]] of Azerbaijan founded in December 1999.<ref>{{cite web |url=https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=21372 |title=IFC and Azerbaijan Support Private Sector Development in Emerging Markets |last= |first= |date= |website=pressroom.ifc.org |publisher= |access-date=October 28, 2021 |quote=}}</ref>
The '''State Oil Fund of the Republic of Azerbaijan''' ({{langx|az|Azərbaycan Respublikasının Dövlət Neft Fondu}}), also known by its abbreviation '''SOFAZ''', is a [[sovereign wealth fund]] of Azerbaijan founded in December 1999.<ref>{{cite web |url=https://pressroom.ifc.org/all/pages/PressDetail.aspx?ID=21372 |title=IFC and Azerbaijan Support Private Sector Development in Emerging Markets |last= |first= |date= |website=pressroom.ifc.org |publisher= |access-date=October 28, 2021 |quote=}}</ref><ref>{{Cite web |last=Columbia Center on sustainable investment |title=Natural Resource Funds Azerbaijan State Oil Fund of the Republic of Azerbaijan |url=https://ccsi.columbia.edu/sites/default/files/content/docs/our%20work/NRF_Azerbaijan_September2013.pdf |website=}}</ref>


Nearly all the fund's revenues come from Azerbaijan's [[oil]] and [[gas]] exports.<ref>{{Cite news |last=Curran |first=Enda |date=2013-02-13 |title=Azerbaijan to Buy Australian Real Estate |language=en-US |work=Wall Street Journal |url=http://online.wsj.com/article/SB10001424127887324162304578301463713013322.html |issn=0099-9660}}</ref><ref>{{Cite journal |last=Di Bonaventura Altuve |first=Leonardo |date=2023 |title=The demise of sovereign wealth funds |url=https://www.tandfonline.com/doi/full/10.1080/09692290.2023.2190601 |journal=Review of International Political Economy |language=en |doi=10.1080/09692290.2023.2190601 |issn=0969-2290}}</ref> The fund has been criticized for its lack of transparency and for enriching Azerbaijan's political elites.<ref name=":1">{{Cite book |last=Altstadt |first=Audrey L. |url=https://books.google.com/books?id=RgbRDgAAQBAJ |title=Frustrated Democracy in Post-Soviet Azerbaijan |date=2017 |publisher=Columbia University Press |isbn=978-0-231-80141-6 |pages=24, 114-120 |language=en}}</ref><ref name=":2">{{Cite book |last=Waal |first=Thomas de |url=https://books.google.com/books?id=8dp1DwAAQBAJ |title=The Caucasus: An Introduction |date=2018-11-02 |publisher=Oxford University Press |isbn=978-0-19-068311-5 |pages=185 |language=en}}</ref>
Nearly all the fund's revenues come from Azerbaijan's [[oil]] and [[gas]] exports.<ref>{{Cite news |last=Curran |first=Enda |date=2013-02-13 |title=Azerbaijan to Buy Australian Real Estate |language=en-US |work=Wall Street Journal |url=http://online.wsj.com/article/SB10001424127887324162304578301463713013322.html |issn=0099-9660}}</ref><ref>{{Cite journal |last=Di Bonaventura Altuve |first=Leonardo |date=2023 |title=The demise of sovereign wealth funds |url=https://www.tandfonline.com/doi/full/10.1080/09692290.2023.2190601 |journal=Review of International Political Economy |volume=31 |pages=277–303 |language=en |doi=10.1080/09692290.2023.2190601 |s2cid=257817535 |issn=0969-2290}}</ref> The fund has been criticized for its lack of transparency and for enriching Azerbaijan's political elites.<ref name=":1">{{Cite book |last=Altstadt |first=Audrey L. |url=https://books.google.com/books?id=RgbRDgAAQBAJ |title=Frustrated Democracy in Post-Soviet Azerbaijan |date=2017 |publisher=Columbia University Press |isbn=978-0-231-80141-6 |pages=24, 114–120 |language=en}}</ref><ref name=":2">{{Cite book |last=Waal |first=Thomas de |url=https://books.google.com/books?id=8dp1DwAAQBAJ |title=The Caucasus: An Introduction |date=2018-11-02 |publisher=Oxford University Press |isbn=978-0-19-068311-5 |pages=185 |language=en}}</ref>


== History and organization ==
== History and organization ==
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) was established by [[Heydar Aliyev]]'s Decree No. 240 dated December 29, 1999.<ref>{{cite web |url=https://www.investopedia.com/terms/s/state-oil-fund.asp |title=State Oil Fund (Azerbaijan) |last= |first= |date= |website=www.investopedia.com |publisher= |access-date=October 28, 2021 |quote=}}</ref><ref>{{cite web |url=http://www.e-qanun.az/framework/5261 |title=Azərbaycan Respublikasının Dövlət Neft Fondunun yaradılması haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI |last= |first= |date=December 29, 1999 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 |quote=}}</ref> Statue of the State Oil Fund was approved by the Decree of the President of the Republic of Azerbaijan No. 434 dated December 29, 2000.<ref>{{cite web |url=http://www.e-qanun.az/framework/148 |title=Azərbaycan Respublikasının Dövlət Neft Fondu haqqında Əsasnamənin təsdiq edilməsi barədə AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI |last= |first= |date=December 29, 2000 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 |quote=}}</ref>
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) was established by [[Heydar Aliyev]]'s Decree No. 240 dated December 29, 1999.<ref>{{cite web |url=https://www.investopedia.com/terms/s/state-oil-fund.asp |title=State Oil Fund (Azerbaijan) |last= |first= |date= |website=www.investopedia.com |publisher= |access-date=October 28, 2021 |quote=}}</ref><ref>{{cite web |url=http://www.e-qanun.az/framework/5261 |title=Azərbaycan Respublikasının Dövlət Neft Fondunun yaradılması haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI |last= |first= |date=December 29, 1999 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 |quote=}}</ref> Statute of the State Oil Fund was approved by the Decree of the President of the Republic of Azerbaijan No. 434 dated December 29, 2000.<ref>{{cite web |url=http://www.e-qanun.az/framework/148 |title=Azərbaycan Respublikasının Dövlət Neft Fondu haqqında Əsasnamənin təsdiq edilməsi barədə AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI |last= |first= |date=December 29, 2000 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 |quote=}}</ref>


SOFAZ has been criticized for lacking transparency in its finances and in its contracting, which has raised questions about corruption.<ref name=":1" /> Critics have described projects funded by SOFAZ as useless,<ref name=":2" /> and noted that contracts have been awarded to companies owned by the ruling Aliyev family in Azerbaijan.<ref name=":1" /> Funds from SOFAZ are frequently transferred to make up for state deficits.<ref name=":1" />
SOFAZ has been criticized for lacking transparency in its finances and in its contracting, which has raised questions about corruption.<ref name=":1" /> Critics have described projects funded by SOFAZ as useless,<ref name=":2" /> and noted that contracts have been awarded to companies owned by the ruling Aliyev family in Azerbaijan.<ref name=":1" /> Funds from SOFAZ are frequently transferred to make up for state deficits.<ref name=":1" />

In 2024, the revenue generated by SOFAZ from the sale of oil from the [[Azeri–Chirag–Gunashli|Azeri-Chirag-Gunashli]] (ACG) field was US$ 5,725 billion.<ref>{{Cite web |date=2024-12-09 |title=Azerbaijan unveils revenues from Azeri-Chirag-Gunashli, Shah Deniz fields {{!}} Caliber.Az |url=https://caliber.az/en/post/azerbaijan-unveils-revenues-from-azeri-chirag-gunashli-shah-deniz-fields |access-date=2024-12-09 |website=caliber.az |language=en}}</ref><ref>{{Cite web |title=SOFAZ reveals its revenues from ACG |url=https://en.apa.az/energy-and-industry/sofaz-reveals-its-revenues-from-acg-454973 |access-date=2024-12-09 |website=Apa.az |language=en}}</ref><ref name=":4">{{Cite web |date=2024-05-07 |title=State Oil Fund's income soars to almost $1.8 billion from ACG this year |url=https://www.azernews.az/oil_and_gas/225671.html |access-date=2024-07-03 |website=Azernews.Az |language=en}}</ref> SOFAZ owns 25% of the shares amongst [[BP]], [[ExxonMobil]], [[Amoco]], [[Unocal]], [[Statoil]], [[McDermott International|McDermott]] and others.<ref name=":4" />

=== Executive Director ===
=== Executive Director ===
The operational management of the Fund's activities is carried out by the Executive Director who is appointed and dismissed by the President.<ref name=":3">{{Cite book |last=Gawrich |first=Andrea |url=https://books.google.com/books?id=biZpDwAAQBAJ&newbks=0 |title=Are Resources a Curse?: Rentierism and Energy Policy in Post-Soviet States |last2=Franke |first2=Anja |last3=Windwehr |first3=Jana |date=2010 |publisher=Verlag Barbara Budrich |isbn=978-3-86649-677-4 |pages=78 |language=en}}</ref> As of 2018, the executive director reports to the President.<ref name=":0">{{Citation |last=Altstadt |first=Audrey |title=Frustrated Democracy in Post-Soviet Azerbaijan |date=2018 |url=https://www.degruyter.com/document/doi/10.7312/alts70456/html |pages=114- |publisher=Columbia University Press |language=en |doi=10.7312/alts70456/html |isbn=978-0-231-80141-6}}</ref> There have been three executive directors since 2001:
The operational management of the Fund's activities is carried out by the Executive Director, who is appointed and dismissed by the President.<ref name=":3">{{Cite book |last1=Gawrich |first1=Andrea |url=https://books.google.com/books?id=biZpDwAAQBAJ |title=Are Resources a Curse?: Rentierism and Energy Policy in Post-Soviet States |last2=Franke |first2=Anja |last3=Windwehr |first3=Jana |date=2010 |publisher=Verlag Barbara Budrich |isbn=978-3-86649-677-4 |pages=78 |language=en}}</ref> As of 2018, the executive director reports to the President.<ref name=":0">{{Citation |last=Altstadt |first=Audrey |title=Frustrated Democracy in Post-Soviet Azerbaijan |date=2018 |url=https://www.degruyter.com/document/doi/10.7312/alts70456/html |pages=114– |publisher=Columbia University Press |language=en |doi=10.7312/alts70456 |isbn=978-0-231-80141-6}}</ref> There have been three executive directors since 2001:
* [[Samir Sharifov]] (January 3, 2001<ref>{{cite web |url=http://www.e-qanun.az/framework/4537 |title=S. R. Şərifovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=January 3, 2001 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – April 18, 2006<ref>{{cite web |url=http://www.e-qanun.az/framework/11631 |title=S. R. Şərifovun Azərbaycan Respublikasının Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=April 18, 2006 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref>)
* [[Samir Sharifov]] (January 3, 2001<ref>{{cite web |url=http://www.e-qanun.az/framework/4537 |title=S. R. Şərifovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=January 3, 2001 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – April 18, 2006<ref>{{cite web |url=http://www.e-qanun.az/framework/11631 |title=S. R. Şərifovun Azərbaycan Respublikasının Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=April 18, 2006 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref>)
* [[Shahmar Movsumov]] (May 15, 2006<ref>{{cite web |url=http://www.e-qanun.az/framework/11718 |title=Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=May 15, 2006 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – November 29, 2019<ref>{{cite web |url=http://www.e-qanun.az/framework/43723 |title=Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=November 29, 2019 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref>)
* Shahmar Movsumov (May 15, 2006<ref>{{cite web |url=http://www.e-qanun.az/framework/11718 |title=Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=May 15, 2006 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – November 29, 2019<ref>{{cite web |url=http://www.e-qanun.az/framework/43723 |title=Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=November 29, 2019 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref>)
* Israfil Mammadov (November 29, 2019<ref>{{cite web |url=http://www.e-qanun.az/framework/43722 |title=İ.A.Məmmədovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=November 29, 2019 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – present)
* Israfil Mammadov (November 29, 2019<ref>{{cite web |url=http://www.e-qanun.az/framework/43722 |title=İ.A.Məmmədovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |date=November 29, 2019 |website=www.e-qanun.az |publisher= |access-date=October 28, 2021 }}</ref> – present)


=== Supervisory Board ===
=== Supervisory Board ===
The President of Azerbaijan appoints the members of a Supervisory Board who are de facto powerless.<ref name=":3" /> The board comprises 7 key officials including the [[Prime Minister of Azerbaijan|Prime Minister]], Deputy [[Speaker of the National Assembly of Azerbaijan|Speaker of the National Assembly]], Assistants to the [[President of Azerbaijan]] – Head of Economic Affairs and Innovative Development Policy, and Head of Economic Policy and Industrial Affairs departments of the [[Presidential Administration of Azerbaijan|Presidential Administration]], [[Ministry of Economy (Azerbaijan)|Minister of Finance]], [[Ministry of Economy (Azerbaijan)|Minister of Economy]], and the Chairman of the [[Central Bank of Azerbaijan]].<ref>{{cite web |date=December 9, 2019 |title=Azərbaycan Respublikası Dövlət Neft Fondu Müşahidə Şurasının yeni tərkibinin təsdiq edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |url=https://e-qanun.az/framework/39260 |access-date=August 23, 2023 |website=www.e-qanun.az |publisher=}}</ref>
The President of Azerbaijan appoints the members of a Supervisory Board, who are de facto powerless.<ref name=":3" /> The board comprises 7 key officials including the [[Prime Minister of Azerbaijan|Prime Minister]], Deputy [[Speaker of the National Assembly of Azerbaijan|Speaker of the National Assembly]], Assistants to the [[President of Azerbaijan]] – Head of Economic Affairs and Innovative Development Policy, and Head of Economic Policy and Industrial Affairs departments of the [[Presidential Administration of Azerbaijan|Presidential Administration]], [[Ministry of Economy (Azerbaijan)|Minister of Finance]], [[Ministry of Economy (Azerbaijan)|Minister of Economy]], and the Chairman of the [[Central Bank of Azerbaijan]].<ref>{{cite web |date=December 9, 2019 |title=Azərbaycan Respublikası Dövlət Neft Fondu Müşahidə Şurasının yeni tərkibinin təsdiq edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı |url=https://e-qanun.az/framework/39260 |access-date=August 23, 2023 |website=www.e-qanun.az |publisher=}}</ref>

== Others ==
In June 2024, SOFAZ announced a plan to invest US$100 million in Dubai-based [[GEMS Education]].<ref>{{Cite web |date=2024-06-18 |title=Azerbaijan's State Oil Fund to invest $100M in one of world's largest private education providers |url=https://report.az/en/finance/azerbaijan-s-state-oil-fund-investing-in-one-of-world-s-largest-private-education-providers/ |access-date=2024-07-03 |website=Report News Agency |language=en}}</ref><ref>{{Cite web |date=2024-06-18 |title=SOFAZ invests in one of largest private companies providing educational services in world |url=https://www.azernews.az/business/227549.html |access-date=2024-07-03 |website=Azernews.Az |language=en}}</ref>


== Awards ==
== Awards ==
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[[Category:Government agencies of Azerbaijan]]
[[Category:Government agencies of Azerbaijan]]
[[Category:Government agencies established in 1999]]
[[Category:Economy of Azerbaijan]]
[[Category:Economy of Azerbaijan]]
[[Category:Sovereign wealth funds]]
[[Category:Sovereign wealth funds]]

Latest revision as of 09:32, 9 December 2024

The State Oil Fund of the Republic of Azerbaijan
Azərbaycan Respublikasının Dövlət Neft Fondu
AbbreviationSOFAZ
EstablishedDecember 29, 1999; 24 years ago (1999-12-29)
Founded atBaku, Azerbaijan
TypeSWF
Executive Director
Israfil Mammadov
Award(s)United Nations Public Service Awards
EITI Award
Websitewww.oilfund.az

The State Oil Fund of the Republic of Azerbaijan (Azerbaijani: Azərbaycan Respublikasının Dövlət Neft Fondu), also known by its abbreviation SOFAZ, is a sovereign wealth fund of Azerbaijan founded in December 1999.[1][2]

Nearly all the fund's revenues come from Azerbaijan's oil and gas exports.[3][4] The fund has been criticized for its lack of transparency and for enriching Azerbaijan's political elites.[5][6]

History and organization

[edit]

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) was established by Heydar Aliyev's Decree No. 240 dated December 29, 1999.[7][8] Statute of the State Oil Fund was approved by the Decree of the President of the Republic of Azerbaijan No. 434 dated December 29, 2000.[9]

SOFAZ has been criticized for lacking transparency in its finances and in its contracting, which has raised questions about corruption.[5] Critics have described projects funded by SOFAZ as useless,[6] and noted that contracts have been awarded to companies owned by the ruling Aliyev family in Azerbaijan.[5] Funds from SOFAZ are frequently transferred to make up for state deficits.[5]

In 2024, the revenue generated by SOFAZ from the sale of oil from the Azeri-Chirag-Gunashli (ACG) field was US$ 5,725 billion.[10][11][12] SOFAZ owns 25% of the shares amongst BP, ExxonMobil, Amoco, Unocal, Statoil, McDermott and others.[12]

Executive Director

[edit]

The operational management of the Fund's activities is carried out by the Executive Director, who is appointed and dismissed by the President.[13] As of 2018, the executive director reports to the President.[14] There have been three executive directors since 2001:

  • Samir Sharifov (January 3, 2001[15] – April 18, 2006[16])
  • Shahmar Movsumov (May 15, 2006[17] – November 29, 2019[18])
  • Israfil Mammadov (November 29, 2019[19] – present)

Supervisory Board

[edit]

The President of Azerbaijan appoints the members of a Supervisory Board, who are de facto powerless.[13] The board comprises 7 key officials including the Prime Minister, Deputy Speaker of the National Assembly, Assistants to the President of Azerbaijan – Head of Economic Affairs and Innovative Development Policy, and Head of Economic Policy and Industrial Affairs departments of the Presidential Administration, Minister of Finance, Minister of Economy, and the Chairman of the Central Bank of Azerbaijan.[20]

Others

[edit]

In June 2024, SOFAZ announced a plan to invest US$100 million in Dubai-based GEMS Education.[21][22]

Awards

[edit]

References

[edit]
  1. ^ "IFC and Azerbaijan Support Private Sector Development in Emerging Markets". pressroom.ifc.org. Retrieved October 28, 2021.
  2. ^ Columbia Center on sustainable investment. "Natural Resource Funds Azerbaijan State Oil Fund of the Republic of Azerbaijan" (PDF).
  3. ^ Curran, Enda (2013-02-13). "Azerbaijan to Buy Australian Real Estate". Wall Street Journal. ISSN 0099-9660.
  4. ^ Di Bonaventura Altuve, Leonardo (2023). "The demise of sovereign wealth funds". Review of International Political Economy. 31: 277–303. doi:10.1080/09692290.2023.2190601. ISSN 0969-2290. S2CID 257817535.
  5. ^ a b c d Altstadt, Audrey L. (2017). Frustrated Democracy in Post-Soviet Azerbaijan. Columbia University Press. pp. 24, 114–120. ISBN 978-0-231-80141-6.
  6. ^ a b Waal, Thomas de (2018-11-02). The Caucasus: An Introduction. Oxford University Press. p. 185. ISBN 978-0-19-068311-5.
  7. ^ "State Oil Fund (Azerbaijan)". www.investopedia.com. Retrieved October 28, 2021.
  8. ^ "Azərbaycan Respublikasının Dövlət Neft Fondunun yaradılması haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI". www.e-qanun.az. December 29, 1999. Retrieved October 28, 2021.
  9. ^ "Azərbaycan Respublikasının Dövlət Neft Fondu haqqında Əsasnamənin təsdiq edilməsi barədə AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI". www.e-qanun.az. December 29, 2000. Retrieved October 28, 2021.
  10. ^ "Azerbaijan unveils revenues from Azeri-Chirag-Gunashli, Shah Deniz fields | Caliber.Az". caliber.az. 2024-12-09. Retrieved 2024-12-09.
  11. ^ "SOFAZ reveals its revenues from ACG". Apa.az. Retrieved 2024-12-09.
  12. ^ a b "State Oil Fund's income soars to almost $1.8 billion from ACG this year". Azernews.Az. 2024-05-07. Retrieved 2024-07-03.
  13. ^ a b Gawrich, Andrea; Franke, Anja; Windwehr, Jana (2010). Are Resources a Curse?: Rentierism and Energy Policy in Post-Soviet States. Verlag Barbara Budrich. p. 78. ISBN 978-3-86649-677-4.
  14. ^ Altstadt, Audrey (2018), Frustrated Democracy in Post-Soviet Azerbaijan, Columbia University Press, pp. 114–, doi:10.7312/alts70456, ISBN 978-0-231-80141-6
  15. ^ "S. R. Şərifovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. January 3, 2001. Retrieved October 28, 2021.
  16. ^ "S. R. Şərifovun Azərbaycan Respublikasının Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. April 18, 2006. Retrieved October 28, 2021.
  17. ^ "Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı Direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. May 15, 2006. Retrieved October 28, 2021.
  18. ^ "Ş.A.Mövsümovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru vəzifəsindən azad edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. November 29, 2019. Retrieved October 28, 2021.
  19. ^ "İ.A.Məmmədovun Azərbaycan Respublikası Dövlət Neft Fondunun İcraçı direktoru təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. November 29, 2019. Retrieved October 28, 2021.
  20. ^ "Azərbaycan Respublikası Dövlət Neft Fondu Müşahidə Şurasının yeni tərkibinin təsdiq edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı". www.e-qanun.az. December 9, 2019. Retrieved August 23, 2023.
  21. ^ "Azerbaijan's State Oil Fund to invest $100M in one of world's largest private education providers". Report News Agency. 2024-06-18. Retrieved 2024-07-03.
  22. ^ "SOFAZ invests in one of largest private companies providing educational services in world". Azernews.Az. 2024-06-18. Retrieved 2024-07-03.
  23. ^ "List of Winners and Finalists for the 2007 UN Public Service Awards" (PDF). unpan1.un.org. Archived from the original (PDF) on March 5, 2016.
  24. ^ "EITI Chairman's Awards presented in Doha". eiti.org. EITI. February 24, 2009. Archived from the original on October 30, 2021. Retrieved October 28, 2021.

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