Oil production volumes optimal for Azerbaijan announced

Photo: Oil production volumes optimal for Azerbaijan announced  / Oil&Gas

Baku, Azerbaijan, April 28

By Emil Ismayilov - Trend:

The oil production at 40-45 million tons in Azerbaijan will be sufficient to ensure the inflow of revenues from the required quantity sale into the country, Azerbaijani Energy Minister Natig Aliyev said at the seventh Caspian Oil and Gas Trading and Transportation Conference in Baku on April 28.

"The oil production volumes in Azerbaijan are being stabilized," he said. "Their current level is sufficient for the country."

Azerbaijan produced 10.43 million tons of oil and gas condensate in January-March 2014, which is 3.2 percent less than in the same period of last year.

Azerbaijan produced 43.1 million tons of oil and gas condensate in 2013 compared to 42.98 million tons in 2012.

The main volume of oil production fell to the block of oil and gas fields "Azeri-Chirag-Guneshli" and "Shah Deniz" gas condensate field in 2013, which are being developed jointly with foreign partners.

Translated by NH
Edited by CN

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