President of Azerbaijan Ilham Aliyev said that two important agreements would be signed today.
Operative Information Center-OMM reports that Ilham Aliyev made the statement at an event titled “Restoring trust in a fragmented world: The South Caucasus as a pillar of global connectivity and investment stability,” held in Baku as part of the 2nd Azerbaijan International Investment Forum under his patronage.
According to him, an agreement on the development of the second phase of the Absheron field will be signed today. This is expected to increase Azerbaijan’s gas production by an additional 5 billion cubic meters in three to four years.
The Azerbaijan International Investment Forum brings together government officials, investors and representatives of the business community to discuss investment opportunities and major development projects. The Absheron field is one of Azerbaijan’s key offshore energy projects and is expected to contribute to the country’s long-term gas supply and export capacity.
