Azerbaijani leader: Oil, gas contracts signed 30 years ago remain unchanged

Oil and gas investment contracts signed in Azerbaijan 30 years ago remain unchanged, President Ilham Aliyev said, highlighting contractual stability as a factor that has helped attract investors to the country.

Speaking at an event held as part of the 2nd Azerbaijan International Investment Forum, Aliyev said the investments and contracts that contributed to the development of Azerbaijan’s oil and gas sector had remained intact since they were signed three decades ago, Caliber.Az reports via state media.

"Investments and the contracts which actually led to development in the oil and gas sector and were signed 30 years ago are still absolutely untouched," the president said.

The head of state noted that the contracts had not been amended, which had contributed to Azerbaijan’s reputation as a reliable partner for investors.

"Not a single word was changed, and that was one of the factors that attracted investors. So we already have a very credible reputation as a very responsible partner," Aliyev said.

He also highlighted security as another factor relevant to investment, describing Azerbaijan as one of the safest places in the world.

"I think another important factor, especially in today's world, is security. Azerbaijan is one of the safest places in the world," Aliyev said, adding that "The crime situation is completely under control."

Aliyev further emphasised the importance of political and economic stability, noting that stability in Azerbaijan has continued for more than 30 years.

"Well, I think one of the most important factors, especially in today's world, is political and economic stability," President Aliyev said.

By Sabina Mammadli