MEETING ON OIL STRATEGY HELD

A meeting dedicated to the oil strategy of Azerbaijan has been held in Azerbaijan University of Architecture & Construction. Rector of the University, Deputy of Milli Majlis Gulchohra Mammadova has told of successes achieved while implementing the new oil strategy whose basis was laid by signing of the “Contract of Century” in 1994, and stressed the significance of the oil contracts from the standpoint of foreign investments attraction to Azerbaijan.

Adviser of the Vice President of the State Oil Company of Azerbaijan / SOCAR/, professor Eldar Shahbazov has presented detailed analysis of the work carried in relation to oil strategy, and updated the meeting participants on energy resources of the Caspian Sea. He noted that according to the contracts signed 35 oil companies from 15 countries are operating in the Republic. They made huge investments in Azerbaijan oil industry, and this process is now continuing.