On September 19, a seminar on “Heydar Aliyev is an architect of the Contract of the century” was held in Sumgayit State University.

The event was attended by the first vice-president of the State Oil Company of the Republic of Azerbaijan, academician Khoshbakht Yusifzade, chairman of the Supervisory Board of “Azerchemistry” Production Union of the State Oil Company of Azerbaijan (SOCAR) Imran Arzumanzade and the university faculty.

At the beginning of the event, guests commemorated the national leader Heydar Aliyev by laying flowers at the bust of the national leader in the university foyer.

Then they looked through photographs and books reflecting the life and work of a national leader displayed at the Heydar Aliyev Center. Here, academician Khoshbekht Yusifzade left an entry in the guest book.

The event was opened by the university rector, Professor Elkhan Huseynov. He welcomed the first vice-president of the State Oil Company of the Republic of Azerbaijan, academician Khoshbakht Yusifzade, and the chairman of the Supervisory Board of “Azerchemistry” PU, Imran Arzumanzade.

The rector spoke about the success of the energy strategy, the foundation of which was laid by the national leader Heydar Aliyev and continues to be implemented by President Ilham Aliyev. He also spoke about the work done since the signing of the “Contract of the century”, the significance of the agreement for the social and economic life of our country. However, he noted, we must admit that our people got the opportunity to take full advantage of this wealth only at the end of the twentieth century after independence. This opportunity has become a reality thanks to the new oil strategy and oil diplomacy of Heydar Aliyev.

The rector also noted that the advent of Heydar Aliyev for the second time in 1993 to political power marked the beginning of radical changes in the political and economic life of our republic and the resumption of negotiations on the oil contract. After long and difficult negotiations, Azerbaijan has finally achieved the signing of an agreement that fully meets its interests.

The former vice-president of the State Oil Company of the Republic of Azerbaijan Ilham Aliyev played a large role in implementing the new oil strategy developed by the brilliant leader, who held meetings and negotiations with the leaders of large oil companies in Washington, New York, Houston, Dallas, Istanbul and other cities.

The “Contract of the century”, one of the largest economic projects of the twentieth century, created favorable conditions for ensuring the political and economic security of Azerbaijan as a state, entering the world economic system and strengthening its position in the international arena.

After that, the first vice-president of the State Oil Company of the Republic of Azerbaijan, academician Khoshbakht Yusifzade, made a report "Heydar Aliyev and the development of the oil industry in Azerbaijan". He spoke about the special role of the “Contract of the century” in the country's oil and gas strategy and its political and economic benefits for Azerbaijan. This contract showed that Azerbaijan is an independent state and trustworthy partner, and to invest in this country was advantageous for leading countries and companies of the world. If “Contract of century” was national leader Heydar Aliyev’s first masterpiece, Baku-Tbilisi-Ceyhan pipeline became the second one. “Shahdeniz” project is the third masterpiece of great leader. Substantial steps stridden towards exporting the gas exploited within the project to European Union on the base of long-term contracts.

Head of the Supervisory Board of “Azerchemistry” PU of State Oil Company of Azerbaijan Republic (SOCAR) Imran Arzumanzade widely spoke about petroleum history of Azerbaijan, the place and impact of oil in the fate of the country and the role of national leader Heydar Aliyev in advancement of petroleum industry. Energy policy implemented under the leadership of President Ilham Aliyev gives its benefits for our state, people and whole region. Oil and gas resources strengthen country economy and at the same time reinforce its international position.

In the end, first vice-president of State Oil Company of Azerbaijan Republic, academician Khoshbakht Yusifzade responded the students’ questions.