Today marks the 29th anniversary of the historic "Contract of the Century," celebrated as Oilmen's Day in Azerbaijan. On September 20, 1994, an oil agreement was signed between Azerbaijan and international corporations, meticulously crafted under the guidance of the National leader Heydar Aliyev. Globally renowned as the "Contract of the Century," this agreement represented a landmark pact inked in Baku with major global oil firms, focusing on the "collective development of the deep-seated Azeri, Chirag, and Guneshli oil fields within the Azerbaijani sector of the Caspian Sea, alongside the equitable distribution of extracted oil as shares."

Due to its historical, political, and international significance, this extensive agreement, spanning approximately 400 pages and available in four languages, earned the moniker "Agreement of the Century." It saw participation from 11 preeminent oil companies originating from seven different nations. This groundbreaking initiative laid the cornerstone for our independent state's oil strategy and doctrine. It symbolized Azerbaijan's unwavering commitment to assert its sovereignty over its natural resources, defend its national interests, and promote its economic and strategic pursuits on the world stage. This pact is counted among the world's largest agreements, both in terms of hydrocarbon resources and investment volume. The agreement's enactment catapulted Azerbaijan to a preeminent position on the global stage and formed the bedrock of Azerbaijan's energy security.

The signing of the "Contract of the Century" marked a historic moment, as it marked the first instance in history where foreign entities actively participated in the development of oil and gas fields in the Caspian Sea, resulting in the creation of tens of thousands of new employment opportunities. Thousands of Azerbaijani companies have been actively engaged as contractors in the execution of this monumental agreement. Presently, our nation plays a pivotal role in reshaping the energy landscape of Europe. Under Azerbaijan's stewardship, numerous energy projects have come to fruition, and significant strides have been taken to transport Azerbaijani gas to Europe.

The synchrony of Oilmen's Day and the commemoration of the "Contract of the Century" is no mere coincidence. In accordance with the decree issued by the revered leader Heydar Aliyev on August 17, 2001, September 20 is dedicated to celebrating "Oilmen's Day" throughout the Republic of Azerbaijan. Heydar Aliyev, recognizing the pivotal role of the oil industry in Azerbaijan's history and its profound impact on the nation's economic development and, most importantly, its quest for independence, bestowed this honor upon the dedicated oil workers.