The United Kingdom remains the largest foreign investor in Azerbaijan's economy, with total investments exceeding $39.9 billion, including approximately $37 billion directed to the country's energy sector.

The figures were announced by Azerbaijan's Deputy Energy Minister Orkhan Zeynalov during an event marking the birthday of King Charles III.

According to Zeynalov, energy cooperation continues to occupy a special place in bilateral relations. He noted that the foundation of this partnership was laid with the signing of the "Contract of the Century" in 1994, which marked the beginning of Azerbaijan's long-standing cooperation with BP.

"Over the past three decades, this partnership has generated significant benefits not only for our two countries but for the entire region," the deputy minister said.

Zeynalov emphasized that major projects such as the Azeri-Chirag-Gunashli (ACG) oil field and the Shah Deniz gas field continue to play a vital role in strengthening global energy security.

He also highlighted the recent launch ceremony for natural gas production from the deep gas reservoirs of the ACG field, describing it as a new historic stage in the development of the project. According to the deputy minister, the ACG Deep Gas project carries strategic importance for increasing Azerbaijan's gas production and export potential.

"The gas reserves being developed under the Deep Gas project will create the conditions for attracting further foreign investment to Azerbaijan in the coming years," he said.

Beyond hydrocarbons, Zeynalov noted that the Azerbaijan-UK strategic partnership is increasingly expanding into green energy and decarbonization initiatives. He pointed to the 240 MW Shafag solar power plant, scheduled to become operational in Jabrayil in 2027, as a key example of this transition. The project is also expected to contribute to the decarbonization of the Sangachal Terminal, demonstrating the integration of conventional and renewable energy development.

The deputy minister added that cooperation between Azerbaijan and the United Kingdom has evolved into a multifaceted partnership extending beyond energy to encompass trade, investment, education, healthcare and several other areas of cooperation.