BAKU, Azerbaijan, September 22. I am confident
that new projects will continue to maintain oil production in
Azerbaijan at the necessary level, and I hope there will even be
growth, said President Ilham Aliyev during a meeting dedicated to the State Program on the
development of the mining and metallurgical industry.
"If we look at the overall development of the country's economy,
we will see that the growth rates are not very high. There are
natural reasons for this, primarily the natural decline in oil
production. Our main oil field, “Azeri-Chirag-Gunashli,” has been
in operation for nearly 30 years, and due to objective reasons,
there are declining trends in production. We are working to
stabilize these trends. At the same time, I am confident that new
projects will continue to maintain oil production in Azerbaijan at
the necessary level, and I hope there will even be growth. However,
this is the reason why our overall economic growth and gross
domestic product increased by 1.2 percent today. This should not
concern us, because a much more important indicator is the
development of the non-oil sector, where growth reached 5.4 percent
in the first eight months of this year," the head of state
added.
To note, on September 22, President of the Republic of
Azerbaijan Ilham Aliyev chaired a meeting dedicated to the “State
Program on the Development of Mining (Metal Ores) and Metallurgical
Industry in the Republic of Azerbaijan for 2027–2030.”
