Minister reveals foreign investments in Azerbaijani oil-gas sector during 27 years

Over the past 27 years, foreign investments in the amount of $89 billion dollars have been invested in the oil and gas sector of Azerbaijan.

The data came from Azerbaijan's Energy Minister Parviz Shahbazov on February 22 at an event on the theme "National leader Heydar Aliyev - the author of Azerbaijan's independent energy policy", dedicated to the 100th anniversary of the birth of great leader Heydar Aliyev, according to Report.

Shahbazov said that the development of the Azeri-Chirag-Guneshli (ACG) block of fields and the Shah Deniz gas field project brought in revenues of $170 billion.

“About 569 million tons of oil were produced at the ACG and Shah Deniz fields, 40. 6 million tons of condensate and about 390 billion cubic meters of gas,” he said.

According to the minister, 533 million tons of oil were supplied to the world market through the Baku-Supsa and Baku-Tbilisi-Ceyhan oil pipelines, of which 55.4 million tons belonged to other countries.

“Markets for the export of 130 billion cubic meters of gas were additionally diversified - the Caucasus gas pipeline, the Trans-Anatolian gas pipeline (TANAP) and the Trans-Adriatic gas pipeline (TAP)," the minister said.