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Rovnag Abdullayev: Investments in the development of ACG exceeded $36 billion

20.09.2019,16:14


September 20, Fineko / abc.az. Today we celebrate the 25th anniversary of the “Contract of the Century” - an agreement on the division of the share of production at the Azeri, Chirag and Deep Water Gunashli fields, which played a special strategic role in the history of independent Azerbaijan. Over the past 25 years, the annual oil production in our country has grown more than 4,  SOCAR President Rovnag Abdullayev said.

Rovnag Abdullaev: Investments in the development of ACG exceeded $ 36 billion.

“To develop deep-water deposits in the Azerbaijani sector of the Caspian, the necessary technologies, modern production methods were brought to the country, innovative methods were applied in all areas. About $ 265 billion was invested in the country, including $ 101 billion in the oil and gas industry. The amount of investments in the development of ACG exceeded $ 36 billion, ” said the president of SOCAR.

The term of this agreement, known as the "Contract of the Century", was extended in September 2017 until the end of 2049.