Gulustan Palace hosts event marking 32nd anniversary of Contract of the Century and Oil Workers’ Day

On September 21, an event marking the 32nd anniversary of the Contract of the Century and Oil Workers’ Day was held at the Gulustan Palace.

The event was attended by government officials, executives of local and international companies, oil workers, as well as representatives of the media and non-governmental organizations.

The participants first viewed an exhibition featuring paintings and photographs dedicated to Oil Rocks by renowned Azerbaijani artists and photographers, presented as part of the SOCART project jointly implemented by SOCAR and the ART Zone art platform.

The event began with the National Anthem of the Republic of Azerbaijan, followed by a video dedicated to the honorable profession of oil workers.

Speaking at the ceremony, Minister of Energy of the Republic of Azerbaijan Parviz Shahbazov noted that the agreement, authored by National Leader Heydar Aliyev, was the first long-term international oil agreement in Azerbaijan’s energy history in the 20th century and laid the foundation for the country’s new oil strategy. “As a result of President Ilham Aliyev continuing this strategic course in line with the realities of the new era, the Contract of the Century was extended until 2050 and entered a new stage of development with the Azeri Central East and ACG non-associated gas projects. Thus, the scale of the historic decision made in 1994 went beyond both the term of a single contract and the boundaries of a single century. ACG has become one of the major strategic energy projects spanning two centuries, having launched Azerbaijan’s new oil history in the 20th century and continuing its development in the 21st century with new projects and new energy opportunities,” the minister said.

Noting that Oil Workers’ Day, established 25 years ago by a Decree of National Leader Heydar Aliyev, embodies the many years of dedicated work of Azerbaijani oil workers and the remarkable development path of the country’s oil and gas industry, SOCAR President Rovshan Najaf congratulated oil workers on State Sovereignty Day and their professional holiday.

Speaking about the role of the energy strategy defined by the National Leader in Azerbaijan’s sustainable development, Rovshan Najaf noted that the targeted allocation of revenues generated from energy resources to the country’s socio-economic development had laid a solid foundation for economic diversification, the creation of modern infrastructure and new production facilities, and the development of competitive human capital.

In his remarks, Rovshan Najaf spoke about the work carried out to further strengthen SOCAR’s position as an international energy company, expand its geographical footprint and diversify its investment portfolio in line with the new energy strategy successfully continued by President Ilham Aliyev. The SOCAR President highlighted the successful completion this year of the acquisition of the Italiana Petroli shares from API Holding, as well as the acquisition of an ownership interest in the Baleine project. He also noted that large-scale seismic exploration and drilling activities had commenced under the Production Sharing Agreement for the exploration, development and production of Uzbekistan’s Ustyurt investment blocks, and that the foundations had been laid for five new filling stations under the SOCAR brand in Uzbekistan.

Gio Cristofoli, bp Regional President for Azerbaijan, Georgia and Türkiye, congratulated the participants on State Sovereignty Day and Oil Workers’ Day and highlighted the role of the major Azeri-Chirag-Gunashli and Shah Deniz projects, operated by bp, in strengthening Azerbaijan’s position as a leading energy hub. He expressed his gratitude to all oil workers who have contributed to the safe and successful implementation of these projects, as well as to the Government of Azerbaijan, SOCAR and all partners.

Following the speeches, veteran oil worker Eldar Mehdiyev read out an address from oil workers to President of the Republic of Azerbaijan Ilham Aliyev.

A promotional video for the documentary “Destinies Written on Postcards” was then screened.

The event continued with an extensive cultural program.