State Oil Fund of the Republic of Azerbaijan

the state oil fund of the republic of azerbaijan (sofaz) is a legal entity and an extra-budgetary institution. sofaz is a mechanism whereby energy-related earnings are accumulated and efficiently managed. the cornerstone of the philosophy behind the fund is to ensure intergenerational equality with regard to benefit from the country's oil wealth, whilst improving the economic well being of the population today and safeguarding the economic security of future generations. the mission the state oil fund of the republic of azerbaijan (sofaz) is to transform depletable hydrocarbon reserves into financial assets generating perpetual income for current and future generations. information and press releases, and both quarterly and annual statements, in azerbaijani and english, about the sofaz's revenues and expenditures, investment activities are regularly published in the local press and posted on sofaz's web-site ( www.oilfund.az ) to reflect developments in varying areas of sofaz's ac