About AZN 25 bln. to be invested in Azerbaijan's oil and gas sector over the next four years

About AZN 25 bln. to be invested in Azerbaijan's oil and gas sector over the next four years
  • Clock-gray 16:57
  • calendar-gray 23 December 2020

The volume of investments in the oil and gas sector in Azerbaijan in 2022 will reach AZN 6 942,6 mln. This is 10.5% more than the forecast for 2021, APA-Economics reports citing budget package.

In 2021, the volume of investments is expected to be AZN 6 731,6 mln.

Despite this increase, investment in the oil and gas sector will decline in 2023-2024.

Thus, in 2023, this figure will amount to AZN 5 965,9 mln, and in 2024 – AZN 5 035,4 mln. And this is a decrease of 11,4% and 25,2%, respectively, compared to the forecast for 2021.

As it can be seen, Azerbaijan is expected to invest AZN 24 675,5 mln. in the oil and gas sector in 2021-2024.

Emil Ismayilov

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