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Mr.%20Nariman%20Ramazanov

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Title: Mr.%20Nariman%20Ramazanov

1

NATURAL RESOURCES OF AZERBAIJAN
1. Oil
- Oil is the main national wealth of the country.
Main oil fields are on Apsheron Peninsula and the
Caspian Shelf
- Azerbaijan is one of the world's oldest
oil-producing countries. The country's oil
industry experienced a boom at the end of the
19th and the beginning of the 20th century.
During World War II, the Soviet Republic of
Azerbaijan produced approximately 500,000 barrels
per day
- Oil production in Azerbaijan dropped off
dramatically in the post-war years
-The years of independence marked a new era of
oil exploration and production (in 2009 oil
production is expected to be 60 million tons and
51 million coming only from ACG offshore bloc)
- Oil industry still is the leading sector of the
countrys economy. (The most important event of
the previous decade is the first PSA -
Contract of the Century on joint exploration of
Azeri, Chirag, Guneshli fields (ACG), located in
the Azerbaijani sector of the Caspian Sea was
signed between SOCAR and 11 foreign oil
companies. At present there are more than 27 PSAs
on offshore and onshore oil fields)

NATURAL RESOURCES OF AZERBAIJAN
1. Oil (continuation)
-BTC (Baku-Tbilisi-Ceyhan) was founded to
implement the construction of the main pipeline.
The partner companies involved in the
construction are SOCAR, BP, Unocal, STATOIL,
TPAO, ENI, Itochu, Delta Hess, TFE and INPEKS.
Azerbaijan has undertaken 25 of the project
financing. Total costs of BTC achieved the
level of 5 billion)
-Kazakhtan is going to join BTC and will sign
and intergovernmental agreements soon..
-More than 20 billion have been invested in oil
sector of Azerbaijan and more than 7 billion
only for ACG during the last decade. (according
to experts estimates, if the world prices remain
at 50\per barrel level Azerbaijan will get more
than 140 billion within the 20 years period).

NATURAL RESOURCES OF AZERBAIJAN
3.Other Natural Resources
Azerbaijan has no significant coal deposits, nor
any domestic coal production. Azerbaijan consumes
only a small amount of coal and consumption has
declined from over 26,400 tons in 1992 to just
1,100 tons in 2000
Azerbaijan is, however, rich in iron and aluminum
ore, pyrite, molybdenum, arsenic. The deposits of
polymetalic ores on Filizchay (Greater Caucasus)
in the upper part of Belokanchay valley are of
commercial importance. The richest deposits of
iron ore (Dashkesan) and alunite (Zaglic) are in
the mountains of the Lesser Caucasus
Nearby, in the Dashkesan-Ganja district are
considerable deposits of cobalt ore and pyrite

NATURAL RESOURCES OF AZERBAIJAN
3.Other Natural Resources (continuation)
Nakhchivan is rich in salt and poly-metal. The
salt deposits in the Negram field are estimated
at 2-2.5 billion tons. Molybdenum is extracted in
Paragachay and arsenic ore in Negram.
Azerbaijan also has mineral deposits for use as
building materials. On the slopes of the Lesser
Caucasus marble is extracted, though its quality
is inferior to Carr marble. Deposits of gravel,
sand, lime, fire-proof and brick-red clay and
loam are being worked on the Apsheron Peninsula.
The deposits of construction stone in the
Republic are estimated to 300 billion tons
(Gyuzdeck, Mardakyan, Dovletyari, Dilagarda,
Shahbulag, Naftalan, Dash Salakhly) and some 24
millions tons of facing stone (Gyulbakht,
Dashkesan,Shakhtakhty,Kilably)
The number of hot and mineral springs of
Azerbaijan runs into the many thousands. The best
known springs are at Istisu, Turshsy, Badamli,
Galalty, Shikhburnu, Surakhany.

NATURAL RESOURCES OF AZERBAIJAN
4. Regulation of activities in the sphere of
Natural Resources in Azerbaijan
The whole package of Natural Resources and Energy
related legislation has been adopted
Law On Nature Protection and Nature Usage,
February 25, 1992
Law On Usage of Energy Resources, May 30, 1996
Law On Subsoil February 13, 1998
Law On Power Engineering April 03, 2998
Law On Gas Supply June 30, 1998
Law On Energy November 24, 2998
Law On Heat and Power Stations March 06, 2000
OilGas Law has not been adopted yet,
therefore, Azerbaijan still uses PSAs with
foreign investors and oil companies

NATURAL RESOURCES OF AZERBAIJAN
5. Investments made and Legal servives required
in the sphere of Natural Resources in Azerbaijan
During the last 12 years more than 1150 foreign
legal entities (FLEs) involved in oil gas
sector of Azerbaijan established their branch or
representative offices in Azerbaijan (96 located
in Baku) These FLEs are established for rendering
various kind of services to PSA contractors and
subcontractors in Azerbaijan (engineering, waste
management, catering, hotel, transport, etc.
services) and by that create large client basis
for local counsels
Major legal services required by the clients
(mainly by FLEs)
Incorporation Tax Customs (ImportExport
regulations) Labour Transport Civil (lease,
purchase, etc.) litigation etc
Role of local counsel in involvement of foreign
investments in native economy
(Legal services reliable source information on
local customstraditions, business environment,
political regime, selection of local partner
best advisor, etc..)

Thank you for the attention!
Nariman Ramazanov
Managing Partner\FINA LLP Law Firm
14 Kerpich str. 1
AZ1022 Baku\Azerbaijan Republic Tel.
(99412) 4446110 Fax (99412) 4446112
e-mail nariman_at_fina.az

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