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President: Oil and gas sector will be the main field for development of Azerbaijan


Azerbaijan has sufficient oil and gas reserves. Azerbaijan’s financial situation is a model for many countries, President of Azerbaijan Ilham Aliyev said at the solemn ceremony on production of 2 billionth ton of oil in Baku.

 

He noted that the currency reserves increased $4.5 billion in nine months: “Oil revenues are transparently preserved in SOFAZ, spent on important economic and social projects. Azerbaijan is an independent country in terms of economy and policy. Oil and gas sector will be the main field for development of Azerbaijan and necessary steps will be taken for development of this field”.   

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