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10:21 13 December
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SOCAR and its partners invested $76B in oil and gas industry so far

SOCAR and its subsidiaries are participants of 17 Production Sharing Agreements signed with 23 companies from 15 countries, Vagif Aliyev, the Head of Investments Department of SOCAR, said in his article in Iki Sahil magazine.

According to him, the contractors of the PSAs have invested 75.7 billion dollars in Azerbaijan’s oil and gas sector since 1995.

 

“ACG participants (BP, Chevron, ExxonMobil and etc.) have invested $42.8 billion in oil and gas sector of Azerbaijan”, he said.

 

Shahdeniz participants (BP, TPAO, Petronas and SOCAR) have invested $25.9 billion in this project.

 

SOCAR official added that Shahdeniz-2 and Southern Gas Corridor need more $40 billion investments. After implementation of these projects, total investments in oil and gas sector will exceed $100 billion.  

 

 

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