According to Energy Minister Natig Aliyev, in January-September this year Shah Deniz produced 7 billion 189 million cubic meters of gas, much of which is staged in Turkey (59% or 4,239,900,000). The share of Georgia was 519.7 million. SOCAR also left for itself by agreement 2 billion 315.4 million cubic meters of "blue fuel".
During this time, the gas resources of the country reached 10 billion 402.8 million cubic meters (+ 6.45% of the forecast).
According to official data, today Azerbaijan produces daily 89 million cubic meters of gas and 120 thousand tons of oil. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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