Investments in Azerbaijan’s oil and gas fields hit $37 billion

“Contract of the Century” signed in 1994 created a good basis for a full upgrade of Azerbaijan’s oil sector. As many as 26 additional PSA contracts were signed later. As a result of successful oil strategy extensive investment were put in country’s economy. Foreign investments in Azerbaijan under these contracts have already surpassed $37 billion,” Abdullayev added. 

He said Azerbaijan has produced 308 million tons of oil from 1994 till the first half-year of 2009.

/Interfax Azerbaijan/