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Heydar Aliyev, the genius who saved Azerbaijan from inevitable disaster with his return to power in 1993, and initiated the fateful changes in the country's political and economic life, began to make important decisions and measures for this rise.

Under the leadership of national leader Heydar Aliyev, on September 20, 1994, one of the most important agreements in the history of Azerbaijan in the 20th century due to its political, economic and strategic importance – the joint development and production of a part of the Azeri-Chirag-Guneshli oil field located in the Azerbaijani sector of the Caspian Sea. Agreement on share distribution – “Contract of the Century” was signed. 11 international oil companies (Amoco, BP, McDermott, UNOCAL, SOCAR, Lukoil, Statoil) representing 7 countries of the world (Azerbaijan, USA, Great Britain, Russia, Turkey, Norway and Saudi Arabia) in the “Deal of the Century” worth 7.4 billion dollars , Turkish Petrollari, Pennzoil, Ramco, Delta) participated.


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