Baku, Azerbaijan, June 17
By Anvar Mammadov – Trend:
The total volume of foreign capital in the form of direct investments in Azerbaijan’s economy during 1Q2017 amounted to $1.6 billion, where the share of the country’s oil and gas sector stood at 80.9 percent, according to the balance of payments by the Central Bank of Azerbaijan (CBA).
Compared to the same period of 2016, the volume of direct investments in Azerbaijan’s economy has not changed.
These investments were used to finance major oil and gas exploration work in Azerbaijan, which was mainly carried out within the projects by BP Exploration Limited (Shah Deniz project) and Azerbaijan International Operating Company (AIOC) at the Azeri-Chirag-Guneshli block of fields.
The volume of direct investments attracted to the non-oil sector of Azerbaijan amounted to nearly $310.3 million, or 19.1 percent of the total amount of direct investments attracted to the country in January-March 2017. This is by over 31 percent more than in the same period of 2016, according to the estimates of the CBA.