Industry and Energy

Home page

Industry and Energy

President Ilham Aliyev: Future development of Azerbaijan to be successful thanks to considered economic policy and development of the oil strategy

01 June 2010 22:47 (UTC +04:00)

APA reports quoting to AzerTAc that President Ilham Aliyev made speech at the opening ceremony of conference:

The President noted that the "Caspian oil and gas" exhibition occupies a special place among ongoing exhibitions in Azerbaijan. The first exhibition in 1994 coincided with the beginning of the oil strategy, has become very significant event. Till that time Azerbaijan with honor passed from tests and successfully solved all tasks that stands in front. Attracting investment, developed on the basis of mutual interests successful relationship with foreign companies, increase economic development of Azerbaijan, the construction of pipelines and transportation projects on these pipelines natural resources on the world and European markets, to a large extent, reflect the realities of todayâ€™s Azerbaijan.

Today we with a sense of great joy can say that the Azerbaijani economy doesnâ€™t depend on oil so. Although many years after the oil factor will be how to ensure the economic interests of Azerbaijan and strengthen our position in the world. In General, this factor for many years, will play its role in improving the well-being of the Azerbaijan people. However, non-oil sector of Azerbaijan also very rapidly improves. Oil policy, oil strategy gave impulse for it.

Successful cooperation with foreign companies founded on the basis of mutual interests and brought a big profit to foreign partners and to Azerbaijan.

Our oil policy is very open, clear and sincere. All our obligations are fulfilled. Today, the State Oil Company of Azerbaijan Republic (SOCAR) is one of the leading world companies, and successful cooperation with foreign companies brought us this new, modern experience. Azerbaijani companies investing in other countries large investments. Today, the Azererbaijani companies invest billions, and this process will continue.

Todayâ€™s production, exceed our export opportunities. But we must ensure that production accounted for equality with internal needs and export opportunities. In order to achieve this, we of course need new markets or expand existing markets. Azerbaijan in both directions is very elaborate, evaluated and targeted policies. Thanks to this policy today Azerbaijan is one of those countries which does not depend only on one route. We have three oil and four gas pipeline. They fully provide energy diversification, and there is opportunity to export our energy in any direction.

Azerbaijan is very friendly and attractive country for investment. Since 1995 82 billion dollar have been invested to Azerbaijanâ€™s economy. You can say, half of these investments was invested in oil and gas sector.

A sharply reducing the price of has not had a negative impact on the development of Azerbaijan. We have implemented all social programs and infrastructure projects.
Azerbaijan economy will develop in 2010 too.

Today in Azerbaijan investment takes place not only in oil and gas sector, but also in tourism, infrastructure, hotels, social sites, such beautiful showrooms.

I hope that soon we will start a major project "Shahdeniz-2". I believe that now we have all features for it. If we can achieve this will be invested about 20 billion dollar to Azerbaijanâ€™s oil and gas sector only on this project in the resent years.