Chapter 4. The Oil Sector in Azerbaijan
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne1, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
ISI; SI; natural resource boom; government; natural resource; deficit; windfall oil revenue; oil revenue management; oil wealth; oil deficit; Oil; gas and mining taxes; Natural resources; Oil prices; Sub-Saharan Africa; Africa; Asia and Pacific; State oil fund; ACG PSA; gas revenue; fund rule; profit oil component; Oil production; Production sharing

Abstract

Azerbaijan has a rich natural resource endowment and a long history of oil and gas exploration. Oil and gas reserves in the country are estimated to be the third largest in the Caspian region.1 Oil production peaked in 1941 at 172 million barrels of oil, or almost 75 percent of the output of the Soviet Union. Production then declined steadily, dropping off sharply in the final years of the Soviet Union. Only in the late 1990s did discoveries of new oil and gas reserves lead to a turnaround in output, driven primarily by foreign investment from international partners.

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Cover Managing Oil Wealth
Managing Oil Wealth
The Case of Azerbaijan
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
ISBN:
9781589063082
Publication Date:
21 Apr 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063082.058
Pages:
50

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