Azerbaijan's oil output to increase significantly in 2011

Oil&Gas Materials 5 June 2009 17:43 (UTC +04:00)

Azerbaijan, Baku, June 5 / Trend , E. Ismayilov/ 

Azerbaijan's oil output will total 60 million tons per year in 2011-2015 compared to 50 million tons in 2009, SOCAR said.

In 2011-2015, foreign companies and SOCAR will produce 51.6 million tons of oil per year from Azeri-Chiraq-Gunashli fields. Oil produced by SOCAR via own funds will total 8.4 million tons per year during this period.

Azerbaijan's oil output will be 55 million tons in 2010, 46.6 million tons of which will be produced by consortium of foreign companies and 8.4 million tons will be produced by SOCAR.  

Foreign companies and SOCAR will produce 41.5 million tons of oil in 2009.

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