"The Contract of the Century"
The Contract of the Century is a landmark oil agreement signed in 1994 between Azerbaijan and 11 international oil companies. The agreement focused on the development of the “Azeri-Chirag-Gunashli” oil fields in the Caspian Sea and marked a major turning point in Azerbaijan’s energy sector.
The National Leader of Azerbaijan, Heydar Aliyev, played a crucial role in the signing of this contract. After restoring political stability in the country in 1993, he created favorable conditions for foreign investment and outlined a strategy to bring Azerbaijan’s oil potential to the global market. Thanks to Heydar Aliyev’s political will and foresight, the country began mutually beneficial cooperation with international companies in the oil industry.
Through the Contract of the Century, Azerbaijan not only modernized its oil sector and strengthened its economy but also reinforced its position in international energy politics. This agreement remains one of the key symbols of Azerbaijan’s path to independent development.
