By 2010 the oil production in Azerbaijan will increase to 65 million tons a year, which exceeds the production ratio of 2005 3 times and the target of 2006 by 2 times, Khoshbakht Yusifzade, the Vice President of the State Oil Company of Azerbaijan (SOCAR) on Geology and Geophysics, stated to a conference on Stable development of oil and gas operation in the Caspian, Trend reports.
The record amount of crude production in the oil industry history of Azerbaijan was fixed in 1944, when production comprised 23.5 million tons.
Azerbaijan attaches great importance to the development of stratums of Age of Reptiles, which will assume special interests in the middle-term perspective, he noted in his address to the conference.
He note that Azerbaijan intends to set up the development of Umid-Babek fields at own expense.