Closing speech by Ilham Aliyev at the meeting with managers of State Oil Company

Thank you very much for interesting presentation. I also agree fully that we should work in Babek on our own.

I remember it. In fact, they were aside – Umid and Babek. Foreign companies also had a big interest to these fields. It is great that we kept these fields and conduct the entire work independently. Of course, we should carry out the total work in Babek field on our own.

As you said, we accumulated not only experience, but can state with high probability that the exploration will go on also there. It means that we say it already now. It is exact. Therefore, the discovery of Umid field can result by discovering largest gas fields.

This day will enter into the history as the big exploration day of State Oil Company. I hope that all other work will be finalized also in nearest future and we will produce early gas there. In any case, this will happen in several years. But, we know already precisely that Umid field will contribute to the gas potential of Azerbaijan. I would like to say once again that our role will increase in European and world gas markets.

Azerbaijan will develop further both in oil and gas fields as well as in all other fields. The prospective in front of our country is very promising and we look at the future very optimistically. The main reason is explained by such a great work done in oil and gas industry of Azerbaijan. As usual, Azerbaijani oil workers make their very valuable contribution to the development of country.

I am very pleased that Umid field was discovered in independence period. If it would be tapped in 50-ies or 70-ies, then its gas reserves could have been exhausted long ago. This is also an historical justice. Azerbaijan contributed strongly to the world oil industry. We gave truly so many contributions. In Second World War, results of war could be absolutely different with the oil of Azerbaijan. These fields left for us so safe is a big gift bestowed by Allah. Today, these fields serve to the independent Azerbaijan and will foster our country in decades to come. I congratulate you once again.