Bank Of Baku

Azerbaijan celebrates Oilmen Day

Azerbaijan celebrates Oilmen Day
# 20 September 2008 09:40 (UTC +04:00)
Baku. Rashad Suleymanov-APA Economics. Azerbaijani oilmen celebrates the Oilmen Day, which originates from the signing of the "Contract of the Century" as a first PSA agreement between the Government and foreign firms on September 20, 1994 for the exploration and development of Azeri, Chirag and deep-water Gunashli (ACG) offshore oilfields.
Employees of the State Oil Company of Azerbaijan (SOCAR) have today visited the grave of Heydar Aliyev in Honor Alley who signed the contract as the then-president of the country.
Rovnag Abdullayev, President of SOCAR, said the “Contract of the Century” changed social and economic life of Azerbaijan and set foundation for the rapid growth of the economy.
He noted that Azeri oilmen gained good achievements over the past 14 years and several regional projects were implemented.
26 PSA contracts were signed after the “Contract of the Century”.
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