Azerbaijan seeks to stabilise oil output, boost gas production, Aliyev says

Azerbaijan is working to stabilise oil production and increase natural gas output to support economic growth, President Ilham Aliyev said.

“I am generally satisfied with economic development. Yes, we have one issue — the natural decline in oil production, which affects GDP figures. However, if we look at the oil and gas sector, its GDP grew by 3.2% over 11 months, which is not a bad result,” Aliyev told local television channels.

He said the authorities are taking steps to stabilise oil output, which he described as achievable, while also focusing on increasing gas production.

“This will add extra momentum to our economy so it can grow. But growth must be natural,” the president said.

Aliyev added that once oil production stabilises, Azerbaijan’s GDP growth rate will accelerate, stressing that economic expansion should primarily translate into better living standards, reconstruction of liberated territories, investment in defence capacity and overall economic resilience.

“When an economy is worth around $70–80 billion, each percentage point means almost $1 billion. Achieving that in a single year is not easy, but better results are possible,” he said.