Nearly 15% of direct investments directed to Azerbaijan’s non-oil sector

Business Materials 11 December 2014 17:28 (UTC +04:00)

Baku, Azerbaijan, Dec. 11

By Maksim Tsurkov - Trend:

The total amount of foreign capital in the form of direct investments in Azerbaijan's economy amounted to $ 5.8 billion in the first three quarters of 2014, where the share of oil and gas sector hit 85.3 percent, the balance of payments published on the website of the Central Bank of Azerbaijan (CBA) said Dec. 11.

These investments were used to finance the large oil and gas operations in Azerbaijan, mainly carried out as part of the projects by BP Exploration Ltd (Shah Deniz) and the Azerbaijan International Operating Company (AIOC) at the block of "Azeri-Chirag-Guneshli" fields.

According to the Central Bank estimates, the amount of direct investments drawn to the non-oil sector amounted to $855 million. This amounted to 14.7 percent of the total amount of direct investments drawn for the first three quarters of this year.


Maksim Tsurkov is Trend Agency's staff journalist, follow him on Twitter: @MaksimTsurkov

Edited by CN