Peter Tase: New PSA contract will have lasting positive impact on lives of every Azerbaijani citizen

Baku. 16 September. REPORT.AZ/ “Just like the Contract of the Century signed by National Leader Heydar Aliyev, this agreement on the joint development and Production Sharing (PSA) will improve the state of Azerbaijan’s economy, provide a steady economic growth, help bolster the social services, revamp education infrastructure and improve public works”.

Report informs, the U.S. political analyst Peter Tase said commenting on signing revised and amended Production Sharing Agreement (PSA) on the joint development of the Azeri, Chirag and deepwater part of the Gunashli field in the Azerbaijani sector of the Caspian Sea.

According to him, over the last decade Azerbaijani Government under the leadership of President Ilham Aliyev has strengthened public finances, improved the quality of social welfare programs and living standards for all Azerbaijanis, thanks to the effective administration of revenues, public funds, that are generated from oil production and exports; these admirable public policies ought to be used as a role model by other oil producing countries.

P. Tase added that signing a new agreement is among the best results of Azerbaijan’s Economic Diplomacy, in the last decade; there is no doubt that the Production Sharing Agreement, will have a lasting positive impact on the lives of every Azerbaijani citizen.