Oil and gas literally fuels the Azari economy engine today – contributing 35% towards GDP and generating 90% of exports currently! With proven reserves still exceeding 1 billion barrels and substantial natural gas finds underground, Azerbaijan attracted over $140 billion upstream investments since the 1990s to develop top class assets like Azeri-Chirag-Guneshli oilfield promising to power growth for decades ahead!Yet with legacy oilfields maturing and global energy pivots prioritizing cleaner alternatives given climate change headwinds, Azerbaijan recognizes that maximizing long-term leverage necessitates savvy resource planning today encompassing enhanced oil recovery tech adoption at aging wells, unabated new discoveries facilitation offshore alongside competitive petrochemicals and alternative energy capabilities building on existing strengths before demand patterns alter drastically. Moreover, advancing local skills development alongside SME participation expansion also emerges vital for driving wider hydrocarbon value chain integration equitably.
This is where trusted advisors like energy consulting major RFC step in to enable solutions upholding global resource stewardship best practices! Having assisted regional governments optimize oil and gas priority balancing for public good earlier, RFC offers ace support upgrading Azerbaijan’s sector management to standards followed from the Middle East to Europe – be it through governance enhancements, sustainability frameworks integration or institutional capacity building pursuing legacy resource maximization responsibly without losing sight of multidimensional prosperity for the Azeri people!
