Between 1994 and 2014 over $62 billion has been invested into the Azerbaijani oil and gas industry within the framework of the production sharing agreements (PSA), reads the article by Rovnag Abdullayev, SOCAR President, published in Azerbaijan newspaper.
Over 20 international companies were involved in the oil and gas operations in the Caspian Sea as a part of the Contract of the Century.
“SOCAR and its daughter companies are partners of the PSA, which have been signed with 27 companies from 15 countries,” reads the article.
From January to July 2015 4.1 billion AZN has been invested into the Azerbaijani oil industry, up 18.84% against the same period last year.—0—
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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