A solemn ceremony to celebrate the 15th anniversary of the signing of the Contract of the Century has been held on Tuesday at the Buta palace in Baku, AzerTAj State News Agency reported.
Azerbaijan President Ilham Aliyev and his spouse Mehriban Aliyeva attended the celebrative event.
The President made a speech at the ceremony, saying the Contract of the Century opened up new horizons for Azerbaijan.
"It facilitated Azerbaijan`s development and ensured the flow of foreign investments to the country", said Ilham Aliyev.
"These investments contributed to developing the non-oil sector of Azerbaijan along with the oil sector," said the President.
"And it also opened the Caspian`s hydrocarbon resources to the world", he said.
President Ilham Aliyev also touched upon the Baku-Tbilisi-Ceyhan oil pipeline, saying it was very important not only for Azerbaijan, but also for regional countries.
"The importance of the BTC has been continuing, turning Azerbaijan into a transit country," he added.
The Head of State spoke of Azerbaijan`s energy policy, saying "it expanded from a regional to a global scale".
"Azerbaijan has become a reliable oil and gas exporting country worldwide," the President said.
Other speakers, including SOCAR President Rovnag Abdullayev, BP-Azerbaijan President Rashid Javanshir and EU Energy Commissioner Andris Piebalgs praised Azerbaijan`s achievements since the signing of the Contract of the Century.
Following the speeches, the event featured demonstration of a film about the anniversary of the Contract, and a concert.