Azerbaijan Oil

Azerbaijan, the oldest known oil producing region in the world, experienced an oil boom at the beginning of the 20th century and later served as a major refining centre in the former Soviet Union. Oil production peaked at about 500,000 barrels per day (bbl/d) during World War II, then fell significantly after the 1950s as the Soviet Union redirected resources elsewhere. Azerbaijan's has 1.2 billion barrels of proven oil reserves, as well as enormous possible reserves in undeveloped offshore Caspian fields. However production declined following Azerbaijan's independence in 1991, falling to an estimated 180,000 bbl/d in 1997, but has known some recovery reaching almost 311,000 bbl/d in 2001. Over 80% of Azerbaijan's oil production currently comes from offshore, with a significant percentage coming from the shallow-water section of the Gunashli field, located 100 km off the Azeri coast. Development of new fields through joint ventures and PSAs in the Caspian Sea likely will boost Azerbaijan's oil production well beyond its earlier peak, with predictions that Azerbaijani oil exports could exceed 1 million bbl/d by 2010 and 2 million bbl/d within 20 years. In what was described as "the deal of the century", an international consortium - the Azerbaijan International Operating Company (AIOC) - signed an 8 billion Euros, 30-year contract in September 1994 to develop three fields - Azeri, Chirag, and the deepwater portions of Gunashli - with total reserves estimated at 3-5 billion barrels. Oil revenues are projected to be roughly 80 billion Euros over the thirty year life of the AIOC and Azerbaijan will realize 80% of these revenues. Almost all of Azerbaijan's oil production increases since 1997 have come from AIOC, which is operated by BP. From November 1997 through the end of 2001, AIOC had produced a total of 133.5 million barrels of oil, mostly from the Chirag-1 stationary platform.
Since 1996, over $4 billion has been invested in the country's oil sector, and Natik Aliyev, president of the State Oil Company of the Azerbaijani Republic (SOCAR), has stated that he expects investment in the country's oil sector to surpass $60 billion.

Where is Azerbaijan?

Azerbaijan is in South-western Asia, bordering the Caspian Sea, between Iran and Russia, with a small European portion north of the ... (read more).

Azerbaijan Republic

Oil-rich Azerbaijan gained independence from the Soviet Union in 1991 amid political turmoil and against a backdrop of violence in.. (read more).

Caspian Sea

The world's largest lake - the Caspian Sea is situated within the vast continental depression settled over bordering areas of a single Euro-Asia continent.
The Caspian Sea is the world largest lake over 30 million years old. Some day it was connected to.. (read more)

Azerbaijan map

Maps and links to maps of Azerbainan.. (read more)

Azerbaijan currency

Manat (AYM). Notes are in denominations of AYM 100, 50, 20, 10, 5 and 1. Coins: 50, 20, 10, 5, 3 and 1 (gepigh). US Dollar, Pound Sterling and the Euro are the preferred currencies.. (read more)

Azerbaijan flag

The flag of Azerbaijan was officially adopted on February 5, 1991. After gaining its independence from the former Soviet Union, this flag, dating back to..(read more)

Heydar Alirza oglu Aliyev, national leader of Azerbaijan people

Heydar Alirza oglu Aliyev was born on 10 May 1923 in the city of Nakhchivan of Azerbaijan. In 1939, after graduating from the Nakhchivan..(read more)

Ilham Aliyev.President of the Republic of Azerbaijan.

Ilham Heydar oglu Aliyev was born in December 24 of 1961 in Baku.. (read more)

Azerbaijan embassy

Embassies of Azerbaijan worldwide. (Azerbaijan embassy addresses and links embassies' websites)
Embassies in Azerbaijan (Embassies of foreign countries in Azerbaijan- address, websites)
(read more)

Azerbaijan visa

Passport/Visa requirements for foreing citizens travelling to Azerbaijan

Companies and organizations in Azerbaijan
(BP Azerbaijan, Bank of Azerbaijan, International Bank of Azerbaijan, Azerbaijan International

Azerbaijan Oil

Azerbaijan, the oldest known oil producing region in the world, experienced an oil boom at the beginning of the 20th century and later served as a major refining centre in the former Soviet Union. Oil production peaked at about..(read more)

Azerbaijan Ministry

Links to the websites of Azerbaijan Ministries
(Ministry of Youth and Sport of Azerbaijan Republic, Ministry of Public Health of Azerbaijan Republic, Ministry of Culture of the Azerbaijan Republic, Ministry of Internal Affairs, Ministry of Taxes and more..)
(view links)

Capital of Azerbaijan
Baku is the capital and the largest city of Republic of Azerbaijan. The city is situated on the Western... (read more)

Azerbaijan News
Links to the websites of Azerbaijan nespapers and internet based news agencies (view links)

Azerbaijan TV
Brief info about Azerbaijan TV channels and links to the websites (read more)

Hotels in Azerbaijan
Brief information about Hotels in Baku and Azerbaijan (read more)

Azerbaijan airways

Azerbaijan Airlines (AZAL) Baku Office, Baku Heydar Aliyev International Airport (BAK), London Airports serviced by Azerbaijan Airlines, Azerbaijan Airlines London Office.. (read more)

Flights to azerbaijan

There are quite a few companies carrying flights to Azerbaijan. Avoid taxis offered by drivers in the customs area, they will.. (read more)