More than $ 100 billion invested in Azerbaijan's oil&gas sector over the past 23 years
  • ECONOMY

  • 10:18 30 May 2019

More than $ 100 billion invested in Azerbaijan's oil&gas sector over the past 23 years

$106 billion has been invested in the oil and gas sector of Azerbaijan over the past 23 years, said Parviz Shahbazov, Azerbaijani minister of energy at 26th International Caspian Oil and Gas Conference, ONA reports.  

According to the report, total investment in Azerbaijan over 23 years, amounted to $ 263 billion.

A large part of the investment in the oil and gas sector is aimed at the development of the Azeri-Chirag-Guneshli (ACG) field block.

P. Shahbazov also noted that $36 billion has been invested in this project so far.

"Up to now from the ACG block 485 million tons of oil and 158 billion cubic meters of gas were extracted"- the minister added

Emil Ismayilov

Tags: Baku Azerbaijan oil gas

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