SOCAR forecasts increase in oil production in Azerbaijan
Azerbaijan, Baku, June 4 / Trend E. Ismayilov /
According to the forecasts, about 53.6 million tons will be extracted in Azerbaijan next year compared to 52.45 million tons this year, a message said.
The country produced 50.42 million tones in 2009 compared to 44.53 million tons in 2008.
About 45.4 million tons are planned to be extracted of the total volume of oil in 2011 together with foreign companies compared to 44 million in 2010.
In 2009 this figure was almost 42 million tons compared to about 36 million in the previous year.
Most part of the oil and gas condensate in the country fall to the block of offshore oil and gas fields "Azeri-Chirag-Guneshli" and gas field Shah Deniz.
According to forecasts, SOCAR's oil production is expected to be reduced on the fields, developed by the company at its own expense. For example, in 2011, SOCAR will extract 8.2 million tons compared to 8.4 million this year.
Last year SOCAR extracted 8.54 million tons on its own deposits compared to 8.65 million in 2008.