On September 22, an online workshop on "Contract of the Century - Heydar Aliyev"s strategy for stability and development” was held at the Heydar Aliyev School of Sumgayit State University.

Rector of the University Professor Elkhan Huseynov greeted the participants, gave detailed information about the place and influence of oil in the fate of Azerbaijan, the invaluable role of National Leader Heydar Aliyev in the development of the oil industry. He noted that Azerbaijan is one of the countries in the world rich in natural resources. However, we must admit that our people were able to fully enjoy these resources only in the late twentieth century - after the restoration of state independence. What makes this opportunity a reality is the new oil strategy of the genius of the great leader Heydar Aliyev, and oil diplomacy designed to implement that strategy. This strategy, along with ensuring the long-term development of our country, has become a guarantor of the perpetuation of our state independence. In the early 1990s, the young, independent Azerbaijani state faced great difficulties and challenges. The incompetence of the government at that time brought our country to the brink. Our country was in crisis – both politically and economically. The economic downturn was a major obstacle to the development of a young, independent country. Demonstrating their own wisdom, the people of Azerbaijan turned to the great leader Heydar Aliyev in 1993 and invited him to power. Since then, Azerbaijan has been experiencing a period of stability and great development. Thanks to Heydar Aliyev"s rich experience of statehood, strong will and foresight, the civil war was stopped, important steps were taken to increase the strength of our national army.

The rector noted that his greatest follower in the implementation of the new oil strategy developed by the genius was Mr. Ilham Aliyev, then the first vice-president of the State Oil Company of the Republic of Azerbaijan.

The rector also noted that the speech of the President of the Republic of Azerbaijan Ilham Aliyev at the High-Level Meeting dedicated to the 75th anniversary of the UN is a manifestation of the international respect and trust shown to our country as both the President of Azerbaijan and the Chairman of the Non-Aligned Movement.

Dean of the Faculty of History and Geography, Professor Adil Bakhshaliyev made a report on "The Contract of the Century - Heydar Aliyev"s strategy for stability and development" and said that on September 20, 1994 in "Gulustan" palace, in Baku the world-famous agreement was signed under the name "Contract of the Century". This large-scale international agreement, which envisages the joint development of the Azeri, Chirag and Gunashli fields between 13 large oil companies with a high reputation in Baku, representing 8 countries, has played an important role in the history and destiny of modern Azerbaijan. With the "Contract of the Century", Azerbaijan declared to the world its right to own its natural resources, showed its determination to protect our national interests, economic and strategic interests.

Professor Shirkhan Salimov, head of the Department of History of the Peoples of Azerbaijan and Eastern Europe, spoke on "International political aspects of the Contract of the Century." He said that for the first time among the former Soviet republics, Azerbaijan had signed such a large-scale agreement with major Western oil companies and laid the foundation for international cooperation.

Dean of the Faculty of Economics and Management, Associate Professor Aynura Yahyayeva spoke on "The role of the Contract of the Century in the socio-economic development of Azerbaijan." She noted that the worthy successor of the Great Leader, President Ilham Aliyev, further enriches the political course of Heydar Aliyev with his successful reform programs in all areas. Azerbaijan is signing large and important projects in all areas. The Azeri-Chirag-Guneshli Agreement is unequivocally characterized as a New Century agreement. Thus, the development of the Azeri-Chirag-Guneshli oil field has been extended until 2050.

Dean of the Faculty of Philology, Associate Professor Sevinj Hamzayeva spoke on "The role of Heydar Aliyev"s oil strategy in the cultural development of Azerbaijan", 5th year student of the Faculty of Chemistry and Biology Guluza Khudayarova on "The signing of the New Century Agreement is a success of Ilham Aliyev"s foreign policy." spoke of their services. They noted that today Azerbaijan is moving forward with confidence on the path of Heydar Aliyev, and under the leadership of Mr. Ilham Aliyev are achieving significant successes. Azerbaijan"s successes, realities, and broad prospects are the direct result of the services, wisdom and policy of national leader Heydar Aliyev.