BAKU, Azerbaijan, February 21. A joint meeting of the Economic Council and Supervisory Board of the Azerbaijan Investment Holding took place in Baku, Trend reports via Cabinet of Ministers.
The meeting, chaired by the Prime Minister of Azerbaijan, Ali Asadov, focused on in-depth discussions of key issues, including the current state of the country's oil and gas extraction sector, performance indicators, and future prospects. Long-term development plans for the State Oil Company of Azerbaijan Republic (SOCAR) and the broader oil and gas sector were also thoroughly examined.
The participants also discussed production forecasts up to 2035, reserves of fields under development and new fields under production sharing agreements, activity of Azneft Production Association, current modernization of Heydar Aliyev Oil Refinery, petrochemical production, domestic demand for fuel, SOCAR's international projects, financial indicators of the company and other topical issues.
The extensive report on these issues was presented by SOCAR President Rovshan Najaf. The meeting was also addressed by Mikayil Jabbarov, Minister of Economy, Chairman of the SOCAR Supervisory Board, and Ruslan Alikhanov, Chief Executive Officer of Azerbaijan Investment Holding.
Following the results of the meeting, taking into account the opinions and proposals of the members of the Economic Council and the Supervisory Board of the holding company, decisions were made on the issues discussed and appropriate instructions were issued to the Management Board of the holding company and SOCAR.
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