Baku: Elm (Science), 1998, 144 pages.

ISBN 5-8066-0928-6.

It is signed in a seal 02.10.1998, Format 84 x108 ¹/_32. Volume 9,0 pp. Circulation 300.

Scientific editor:    academician of Azerbaijan National Academy of Sciences

                                                                                                            Z.A.Samedzadeh

Dedicated to the memory of father Hajizadeh Mahmud Agababa oglu.

“The problems of economic reforms and rational utilization on on offshore oil extracting”, is the research work devoted to the urgent problems of offshore oil extraction during the market relations condition, the forming of refoms and to their impovement.

The decrease of output in oil extraction has been observed for the last years in the newly independent republic. Now, the rational utilization of oil reserves is of great importance for the strengthening of Azerbaijan indepence. At the end of disintegrarion of the Soviet Union the care attention to Azerbaijan decreased, the necessary measures for the development of industry were not takre and the limitation of investment resulted in its supply system and in decrease of economy. The non-economic approach, indifference and other aspects also showed themselves during the disingration process of the USSR.

The process of drop in output of oil-gas in offshore was significantly taking place. The aim of the research work is to solve the economic problems during the new economic system in the offshore oil-gas extraction which they meet, to carry out the reforms in the oil-gas extraction, to determine their strategic and tactics and to working out the rational economic mechanism in this field.

The stages of development, the dynamics of production have been analysed in the XX century. The reforms carried out in offshore oil-gas extraction in Azerbaijan republic in the market relations have been researched in the complex form for the first time. The ways for the combining the internal reserves, the involment of foreing investors to this work, the role of investment policy in the reconstruction of oil industry have been shown. The monography deals with the improvement ways of the management of oil-gas extaction complex in offshore and basing it scientifically.

The economic mechanism for the work of the structure that is needed has been suddested. The work has also analysed the methodological bases of the production expenditures in market and competition relations.

The work also indicates the proportion between the its level with crude oil price and decrease of self-cost in the of OGEB activity. At the same time the research work analyses the restructization and divercification strategy. The oil business in Azerbaijan especially in offshore oil and gas extraction industry, national ownership development, the privatization pecularities carried out in this field were analysed too. The ways of interests, serving to the national state policy have been determined.

The monography consists of 5 chapters. The practical significance of the research work includes the reform of the oil and gas extraction industry, the boardening of the independency of the authorities of the oil and gas extraction enterprises, the increast of guarantees at the cost of internal reserves in vlew of increase of oil and gas output in the structural subdivision, the results which support the deepening the economic in the oil and gas complex.

The materials obtained from the reserrarch work can be used in carrying out wide range scientific works, preparing the literature on econome and educational means, in studying of the problems of oil and gas extraction, in writing the history of oil and gas industry of Azerbaijan in the XX century.