Ilham Aliyev: Azerbaijan’s oil and gas sector expanding capabilities every year

The Caspian International Oil & Gas Exhibition plays an important role in Azerbaijan's life, according to the President of Azerbaijan, Ilham Aliyev.

President Aliyev made the remarks on June 3 at the 21st Caspian International Oil & Gas Exhibition, held in Baku.

"Today, the exhibition features over 400 companies, some of them are participating for the first time, and some are our traditional partners. The number of companies participating in the exhibition is growing from year to year, and it is encouraging," Azerbaijani president said. "This is a very important indicator, as the oil and gas sector of Azerbaijan is expanding its capabilities and every year we are expanding our activities."

Ilham Aliyev went on to say that the set goals are being executed and the new ones are coming forward.

President Aliyev said the event's significance is increased by the fact that the U.S. president and UK's prime minister traditionally sent their congratulatory letters to the exhibition.

"This greatly increases the event's significance, as the heads of state and government of the two leading countries of the world paid particular attention to the event and I believe that our event is retaining its unique role on the global level," Azerbaijani president underscored.

President Aliyev said this exhibition has become the first important step, attracting the world's attention to the independent Azerbaijan.

"Azerbaijan's successes gained in the recent years have been achieved jointly with partners," President Aliyev stressed, adding that the world did not have an extensive idea on Azerbaijan in 1994.

"Azerbaijan was a young, independent state, and the first years of independence were very hard for our country and people," President Aliyev stressed. "The civil war, internal conflicts, aggressive policy of Armenia against Azerbaijan, economic regress - we remember all of this, and 1993 will be remembered as a pivotal year in the development of young and independent Azerbaijan. Because, starting from that year, Azerbaijan has embarked on the path of successful development."

The president went on to add that the reforms conducted by Azerbaijan's national leader Heydar Aliyev, covered all spheres, adding that Azerbaijan's oil strategy, which is being successfully implemented today, was determined in those years.

President Aliyev stressed that the first exhibition held in 1994, undoubtedly increased the attention of world oil and gas companies towards Azerbaijan's economy, and this attention continues today.

He said Azerbaijan is in the focus of attention thanks to its contribution to the oil and gas industry's development and the global energy security over the past 20 years.

Azerbaijani president also said the first exhibition was held in 1994, and the 'Contract of the Century' was signed a few months later, thus largely determining Azerbaijan's current successful development.

Ilham Aliyev went on to add that it was a historic event, because today it is hard to imagine a situation had the 'Contract of the Century' not been signed.

"At that time, Azerbaijan did not have money, the economy was devastated, there was no industrial development, and the development path of Azerbaijan as an independent state depended only on attracting the foreign investments," he said.

The 21st Caspian International Oil & Gas Exhibition, the largest event in the energy sector of the Caspian region, is taking place between June 3 and June 6 at the Baku Expo Center.

Every year, Caspian International Oil & Gas Exhibition gathers leading specialists and leading enterprises in the oil and gas industry to demonstrate advanced technologies for the extraction and processing of oil and gas, transportation and logistics, as well as industry related services.

The exhibition offers an opportunity to discuss trends in the development of the oil and gas market, potential prospects for cooperation in the Caspian region and the development of solutions for energy security issues around the world. Some 402 companies from 29 countries present their products and services at the exhibition. Famous companies from around the world attend the exhibition. These companies include those which were involved in the Contract of the Century - State Oil Company of Azerbaijan Republic (SOCAR), BP, Statoil, OMV, TPAO, Lukoil and many others. Local companies comprise 35 percent of the total number of exhibitors, while the total growth of the exhibition has reached 10 percent. The four day exhibition will also feature a substantial business program. Over 500 delegates from more than 30 countries will take part in the annual conference. More than 50 representatives of state bodies, leading experts in the oil and gas industry and chief executives of major oil and gas companies from different countries participate in the conference. (Trend. az)