Investments in Azerbaijan's oil sector increase by over third per year

Oil&Gas Materials 18 November 2013 20:16 (UTC +04:00)

Baku, Azerbaijan, Nov. 18

By Emil Ismayilov - Trend:

Around 3.94 billion manat was invested in the oil sector in January-October 2013 or 35.8 percent more than in the same period of last year, the Azerbaijani State Statistics Committee told Trend today.

Around 505 million manat investments were made in the country's oil sector in October compared to 317 million manat in October 2012.

According to the State Statistics Committee, the total volume of capital investments in the industrial sectors of Azerbaijan in January-October amounted to 5.83 billion manat or 37.7 percent more than in the same period of last year.

Around 3.8 billion manat of these funds was invested in the mining industry or 31.3 percent more than in the same period of 2012.

The investments in the production, distribution and supply with electricity, gas and heat in January-October amounted to 287.7 million manat, which is 8.5 percent less than in January-October 2012.

The official exchange rate is 0.7844 AZN/USD on Nov. 15.