Azerbaijan gained independence from the Soviet Union following its dissolution in 1991 . Despite severe infrastructural damage resulting from the Nagorno-Karabakh War and the post-Soviet transition phase , the country has managed to develop a robust and stable economy through revenues from petroleum exports . The State Oil Company of Azerbaijan Republic ( abbreviated as " SOCAR " ) is the 68th largest organization in the world , valued at roughly $ 20 billion USD . Azerbaijan ranks 7th in the world on an aggregate list of countries by proven natural gas reserves , as well as 19th on a similarly compiled list of nations by proven petroleum reserves . In recent times , Azerbaijan has made efforts to focus on greater cultural and economic integration with the West , notably through hosting the 57th annual Eurovision contest in 2012
57th annual Eurovision contest
Eurovision Song Contest 2012
Forced evictions in Baku