Minister: $89B of foreign investments made in oil&gas sector of Azerbaijan

To date, $89 billion of foreign investment has been made in the oil and gas sector of Azerbaijan, Azerbaijani Energy Minister Parviz Shahbazov said at a conference "Heydar Aliyev and independent state building in Azerbaijan: history and modernity of socio-economic transition" in Baku, Report informs.

“Gas supplies from Azerbaijan to Europe, the route of this export, the importance of energy cooperation were accurately described by Heydar Aliyev back in the 90s. He said that a gas pipeline should be built from the Caspian Sea to Türkiye. This is also necessary for European countries geographically located after Türkiye. At the Azeri-Chirag-Guneshli and Shah Deniz fields, 615 million tons of oil, 42 million tons of condensate, 399 billion cubic meters of natural gas were produced, 613 million tons of oil and 135 billion cubic meters of gas were exported, and an income of $176 billion was received,” the minister noted.