The article analyzes the factors influencing the sustainable development of the oil and gas industry, with an assessment of their impact. It discusses the role of the oil and gas industry in Azerbaijan's economy, and the development of oil and gas production determines the strategic efficiency and sustainability of this process. It has been identified that the factors influencing the sustainable development of the oil and gas industry are mainly shaped by the internal and external factors of the enterprise. These factors play an important role in the development of the oil industry, determining the conditions for the development of construction and other sectors. The article conducting a correlation-regression analysis of the dependence between the volume of oil and natural gas production in Azerbaijan and the volume of oil production, chemical and petrochemical industry products, identifying factors affecting the economic sustainability of this sector.