Russian companies invest USD 5 bln. in Azerbaijan’s oil and gas sector

Azerbaijan's oil and gas sector with large hydrocarbon reserves was always attractive for foreign investments

As of April 1, 2021, Russian companies invested USD 4,9 bln. in Azerbaijan’s oil and gas sector, said Azerbaijan’s Minister of Energy Parviz Shahbazov in an interview with Russia’s "Nefteqazovaya vertikal" magazine, Qazet.az reports.

According to him, today, more than a thousand companies with Russian capital operate in Azerbaijan.

The minister also noted that Azerbaijan's oil and gas sector with large hydrocarbon reserves was always attractive for foreign investments. USD 109,5 bln. was invested in Azerbaijan’s oil and gas sector in 2000-2020, of which 79,5% is foreign investments.