CONTRACT OF CENTURY LAYS FOUNDATION OF AZERBAIJAN’S ECONOMIC GROWTH

17.12.2006 [16:28]
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According to the State Oil Company of Azerbaijan Republic, within the framework of the Contract of the Century, Chirag field has to date produced 51,035,000 tons of crude and over 8 bln cubic meters of associated gas. Azeri field has produced 20,674,052 tons of oil.

Baku-Novorossiysk pipeline transported a total of 23,222,262 tons of oil, Baku-Supsa pipeline carried 45,541,287 tons of crude to the world markets. Railways of Azerbaijan have hauled 5,886,857 tons of crude over two years.

Annual oil production will exceed 30 million tons this year, beating the record in the country’s oil industry. With deepwater Guneshli field coming on stream, the oil production will hit a record high of 50-60 million tons a year.

Baku-Tbilisi-Ceyhan main pipeline has exported 6,356,221 tons with the pipeline throughput reaching 50-60 million tons because of increase in the oil production within the next few years.

Azerbaijan has to date sealed 27 oil deals worth $60 billion with the major oil companies of 15 countries.

The oil production jumped from 10 million tons in 1993to 26,9 million in 2006.

Azerbaijan has to date received foreign investment of over $17 billion.

Gross Domestic Product in Azerbaijan grew by 34,4% or 4 billion manats in January-November this year over last year’s figure to 16 billion manats, of which the major part falls to the share of the energy sector.

CONTRACT OF CENTURY LAYS FOUNDATION OF AZERBAIJAN’S ECONOMIC GROWTH

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