BAKU, Azerbaijan, February 22. A total of $89 billion of foreign investments have been made in the oil and gas sector of Azerbaijan for the past 27 years, Azerbaijani Energy Minister Parviz Shahbazov said during the event "National leader Heydar Aliyev is the author of Azerbaijan's independent energy policy", Trend reports.
According to him, one of the main contributions of Heydar Aliyev to the long-term energy policy of Azerbaijan was the signing of an agreement on the Shah Deniz gas field in 1996.
"Thanks to this agreement, the construction of the Baku-Tbilisi-Erzurum gas pipeline and the creation of the Southern Gas Corridor became possible. Today, each of these projects is an important source of energy security, the economic success of our country and our partners,” Shahbazov noted.
“About 569 million tons of oil have been produced in Azerbaijan, 40.6 million tons of condensate, about 390 billion cubic meters of gas worth more than $170 billion,” he stressed.
“The Baku-Supsa pipeline transported 99.4 million tons of oil. Of the total volume of oil transported through the Baku-Tbilisi-Ceyhan pipeline, 477.5 million tons belonged to Azerbaijan, and 55.4 million tons to other countries," he also noted.
Meanwhile, the investments in fixed assets in Azerbaijan in 2022 amounted to 18.2 billion manat ($10.7 billion), which is an increase of 5.5 percent year-on-year. The volume of investments in the oil and gas sector decreased by 9.8 percent, and in non-oil sector - increased by 13.6 percent.