SOCAR said in April that BP-led consortiums would suspend West Azeri, Chirag and Shah Deniz oil and gas platforms for maintenance works in 2021.

IMF forecasts 7.7 percent economic growth in 2021 and 5.8 percent in 2022.

ACG is the largest oil field block in Azerbaijan developed by a BP-led international consortium. The first production sharing agreement for developing the block was signed on September 20, 1994.

Commercial banks reported a total net profit of 1.470 billion lari ($474 million) from January to August compared to a loss of 316.7 million lari in the same period in 2020.