State Oil Fund of Azerbaijan

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a sovereign wealth fund created by presidential decree on December 29, 1999, with its statute approved the following year, and headquartered at the SOFAZ Tower on Heydar Aliyev Avenue in the Nizami district of Baku. Its revenues derive almost entirely from the country's oil and gas exports, which it invests internationally across more than 60 countries in listed securities as well as infrastructure and renewable energy projects. As of June 30, 2026, SOFAZ reported 72.6 billion US dollars in managed assets, a 16.9 percent increase since the start of the year, and its Executive Director, appointed by the President of Azerbaijan, is Israfil Mammadov.