Azerbaijan's President Seeks to Stabilize Oil Production Amid Decline

Azerbaijan's President Ilham Aliyev addressed the country's economic growth during a meeting dedicated to the State Program on the development of the mining and metallurgical industry.

The president noted that despite natural reasons such as declining oil production, new projects will help maintain oil production at the necessary level. The main oil field, Azeri-Chirag-Gunashli, has been in operation for nearly 30 years, with declining trends due to objective reasons.

Azerbaijan's economic growth and gross domestic product have increased by 1.2 percent this year, but this is primarily due to the natural decline in oil production.

The president emphasized that the development of the non-oil sector is a more important indicator, with growth reaching 5.4 percent in the first eight months of this year.