oil fund


Tender Announcement 28.05.2009

Tender Announcement 28.05.2009

The State Oil Fund of the Republic of Azerbaijan ("SOFAZ")

"On public procurements" announces an open tender

SOFAZ, a state owned legal entity, has been established in accordance with the Decree of the President of the Republic of Azerbaijan in December 1999. As of April 30th, 2009, the assets in the portfolio stood at approximately USD 11 billion.

SOFAZ is seeking to implement a risk measurement system for its investment portfolios. The creation and implementation of the system should be done within six months from the date of signing the agreement.

The tender is open to financial technology companies that offer a functionally rich and high-performance risk measurement system with at least 5 years of experience in developing and distributing institutional risk measurement systems and having an international institutional client base and minimum annual revenues or shareholder equity of USD 5 million.

SOFAZ will send by e-mail or certified mail a formal Request for Proposal (the "RFP") in both the Azeri and English languages along with the accompanying bidding documents to those companies that have expressed interest.

The interested companies shall send to SOFAZ by fax, e-mail or mail no later than July 3rd, 2009 the following documents:

  • 1. Expression of interest (letter of participation),
  • 2. Properly asserted copies of legal documents confirming the bidder's legal status (charter, certificate of state registration or extract from the registry, etc.), and
  • 3. The last audited financial statement.
  • 4. Document authorizing the responsible person to act as signatory

SOFAZ has set July 17th, 2009 5:00 PM local Baku time as the deadline for submission of tender proposals in response to the RFP. Bids shall be sent to SOFAZ principal address at 20 BulBul Avenue, Baku AZ1014, Azerbaijan.

Opening of tender proposal bids will take place at 11:00 AM local Baku time on July 20th, 2009 at the administrative building of SOFAZ. Companies participating in the tender may send an authorized representative to the opening of tender proposals.

The tender proposals will be evaluated in two stages:

  • Stage1 will be based on technical criteria such as functionality, services, reporting, and technology as specified in the RFP.
  • Stage 2 will be based on pricing along with the criteria described above.

Questions and inquiries regarding the RFP shall be emailed to RMS@oilfund.az or faxed to +994 (12) 490 57 32 to the attention of Mr. Samir Aghayev, Coordinator of the tender.

Information about SOFAZ can be obtained from SOFAZ official website at