The first meeting of the Multi-stakeholder Group (MSG) on implementation of Extractive Industries Transparency Initiative (EITI) in Azerbaijan presided over by Shahmar Movsumov, Chairman of the MSG and the Executive Director of the State Oil Fund, was held on February 4, 2010. Shahmar Movsumov updated the members of the MSG on latest developments of EITI implementation.

The State Oil Fund of the Republic of Azerbaijan signed an agreement with RiskMetrics Solutions Inc. on 29th of January, 2010.  The company is the winner of an open tender for provision of IT solution for Risk Measurement System, which was held in compliance with the requirements of Law of the Republic Azerbaijan on Public Procurement.

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2009 reached 8 176.7 million manats, while budget expenditures constituted 5 294.5 mln. manats. 2009 budget revenues and expenditures of the Fund were executed accordingly 97.8 % and 99.5%.