Joint meeting of the Economic Council and AIH’s Supervisory Board held

On February 21, the agenda of the meeting chaired by the Prime Minister of the Republic of Azerbaijan, Ali Asadov, included the current state, key performance indicators and future prospects of Azerbaijan's oil and gas production, as well as, long-term development plans of SOCAR and the country’s oil and gas sector in general, production forecasts until 2035, reserves of current and new fields developed under Production Sharing and Risk Service agreements, activities of "Azneft" Production Union, the implementation status of the Heydar Aliyev Oil Refinery Reconstruction and Modernization Project, production of petrochemical products and domestic fuel demand, projects implemented by SOCAR abroad, SOCAR's financial indicators and other present issues.

SOCAR President Rovshan Najaf’s comprehensive presentation on the agenda items was followed by the speeches of the Minister of Economy (Chairman of the Supervisory Board of SOCAR) Mikayil Jabbarov and Chief Executive Officer of Azerbaijan Investment Holding Ruslan Alikhanov. The Economic Council members engaged in extensive discussions on the topics presented.

At the end of the meeting, decisions were made on the issues discussed, with the consideration of the feedback and proposals of the members of the Economic Council and AIH’s Supervisory Board, and relevant directives were issued to AIH’s Management Board and SOCAR.