SOFAZ SUPERVISORY BOARD HOLDS ITS MEETING

Baku, July 10 (AzerTAc). A meeting of the Supervisory Board of Azerbaijan State Oil Fund (SOFAZ) was held on July 9. The meeting chaired by Mr. Artur Rasizadeh, Prime Minister of Azerbaijan and Chairman of the Supervisory Board discussed the Fund`s annual report and audited financial statements for 2009, a report on execution of 2009 budget, as well as amendments to the Fund`s 2010 budget.
The Supervisory Board approved the SOFAZ`s 2009 annual report and Auditor`s (Deloitte & Touche) Report. While endorsing the Oil Fund`s 2009 budget execution and amendments to the Fund`s 2010 budget the Supervisory Board recommended both documents for approval by Azerbaijan President.
Prime Minister Artur Rasizadeh was re-elected as the Supervisory Board`s Chairman-in-office for 2010.