As Trend reports, over $45 billion of investments have been made in the oil and gas sector in Azerbaijan at the expense of more than 30 agreements signed with foreign companies. Azerbaijani Industry and Energy Minister Natig Aliyev made this statement at the Seventh General Assembly of the International Conference of Asian Political Parties held in Baku on Thursday.
“Thanks to the attracted investments, Azerbaijan has achieved high level of oil production, which in turn helped to ensure its own energy security and created conditions for export of great volumes of the country’s hydrocarbon resources,” he said. Making investments in the country’s oil and gas industry and using advanced technology made it possible to increase oil production by 5.5 times, and gas production – four times compared to early 1990s.
