Income from “Shah Deniz” Gas Project to the Oil Fund Decreased Nearly Threefold

We are already negotiating with a number of other European countries located near those who are already receiving our gas. I think this will be possible in the coming years,  the President of Azerbaijan, Ilham Aliyev,  stated in an interview with local television channels on January 7.

The main indicator for us is the development of the non-oil sector, because recently we have faced a decline in oil production, the President of Azerbaijan, Ilham Aliyev, stated in an interview with local television channels on January 7.

The State Oil Company of Azerbaijan (SOCAR), which had been operating at a loss for a long time and was constantly reliant on the state budget, is now operating profitably, the President of Azerbaijan, Ilham Aliyev, said in an interview with local television channels on January 7.

The President of Azerbaijan, Ilham Aliyev, announced that in 2025, the country hopes to receive the first gas under the "deep" gas project (gas extraction from deeper layers) from the Azeri-Chirag-Gunashli (ACG) field. This year, we hope to receive the first gas as part of the "deep" gas project at the Azeri-Chirag-Gunashli field. This will be a significant contribution to overall gas production, said Aliyev in an interview with local television channels.