Azerbaijan Celebrates Oil Workers' Day Amid Energy Sector Transformation

Azerbaijan has marked Oil Workers' Day, a date of both professional and historical significance for the country. The day commemorates the signing of the Contract of the Century on September 20, 1994, an agreement between Azerbaijan and 13 major oil companies from eight countries.

The contract laid the foundation for integrating Azerbaijan's oil industry into the global energy system and attracted international capital and technology. Since then, the country has undergone significant changes in its energy sector, shifting from a primarily oil-focused strategy to a broader energy model that includes oil, gas, pipeline infrastructure, and new energy projects.

The Azeri-Chirag-Gunashli (ACG) field remains the central asset of Azerbaijan's oil industry, with approximately 4.6 billion barrels of oil produced since commercial production began in November 1997. The field is transitioning to a more mature stage of development, with enhanced oil recovery projects launched by bp and the commencement of free natural gas production operations.