Today marks 32 years since the signing of the agreement between the State Oil Company (SOCAR) and leading world oil companies for the joint development and production sharing of the “Azeri” and “Chirag” fields, as well as the deep-water part of the “Gunashli” field, in the Azerbaijani sector of the Caspian Sea.
Sea-news.az reports that in accordance with the Decree of National Leader Heydar Aliyev dated August 16, 2001, the day the agreement was signed — September 20 — is celebrated as Oil Workers’ Day in Azerbaijan.
Consisting of approximately 400 pages and compiled in four languages, the agreement was named the “Contract of the Century” due to its historical, political, and international significance. Eleven leading oil companies representing 7 countries participated in the agreement.
The signing of the contract laid the foundation for Azerbaijan’s independent oil strategy and doctrine. This global project demonstrated to the international community the country’s determination as a sovereign state to take ownership of its natural resources, protect its national interests, economic, and strategic goals, and it became one of the key guarantees of state independence.
Prepared under the leadership of National Leader Heydar Aliyev, the “Contract of the Century” took its place as an important milestone in Azerbaijan’s new oil strategy. In terms of both the volume of hydrocarbon reserves and the amount of invested capital, the agreement ranks among the major contracts signed globally.
These achievements are the result of the dedicated labor, rich experience, and professionalism of Azerbaijani oil workers. Our oil workers have always earned great respect in society through their perseverance and professionalism. Poems have been written, songs composed, and films made dedicated to their labor and heroism.
In accordance with the Decree of Great Leader Heydar Aliyev, who highly valued the labor of oil workers, September 20, the day the “Contract of the Century” was signed, is also celebrated in our country as the professional holiday of oil workers.
