In the first half of 2012, the economy of Azerbaijan received $ 4.7 billion in foreign investments (including loans from international financial institutions and banks), which is 36.8% more than in the same period last year. The majority (46.2%) of investments accounted for by private equity.
The State Statistics Committee (SSC) of Azerbaijan told Turan that during the first half of this year, foreign direct investment amounted to $ 2.2 billion, which is 26.9% higher than in the same period of 2011. In the SSC they found it difficult to reveal the structure of foreign direct investments from various countries, referring to the fact that this is preliminary data.
The oil and gas sector continues to be the most attractive to foreigners: in January-June 2012, 85.5% or $ 1.9 billion was directed to this sector.
In 2011 the volume of foreign investments in Azerbaijan's economy was $ 8.7 billion, of which 49.5% was contributed in direct foreign investment. The top three in terms of investments in Azerbaijan's economy included the Netherlands, Great Britain and Turkey. - 08B-
Economics
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Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
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Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
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The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
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BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
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