On September 14, Azerbaijan’s government, BP and other partner companies agreed to amend the contract for the Azeri-Chirag-Guneshli (ACG) oil field in the Azerbaijani section of the Caspian Sea. The so-called “contract of the century” was originally signed in 1994 and was set to expire in 2024. The new contract is valid through 2049.
NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
International organizations, fiscal policy experts and transparency advocates agree that civil society and the general public need to understand budget figures to effectively monitor the use of public funds.
The December 2016 issue of the Caucasus Analytical Digest examined the record of human capital accumulation, gender equality and corporate social responsibility in Azerbaijan during the recent oil boom.