Nearly 84% of direct investments in Azerbaijan attracted to oil sector

Business Materials 30 March 2015 10:47 (UTC +04:00)

Baku, Azerbaijan, Mar.30

By Azad Hasanli - Trend:

The total amount of foreign capital in the form of direct investments in Azerbaijan's economy during 2014 amounted to $8 billion, where the share of oil and gas sector stood at 83.6 percent, according to the balance of payments, published Mar.29 on the website of the Central Bank of Azerbaijan (CBA).

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

The volume of direct investments attracted to the non-oil sector amounted to $1.318.5 billion, which is 16.4 percent of the total amount of direct investments attracted to the country over the last year, according to Central Bank's estimates.


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