Azerbaijan, Baku, Dec. 8 /Trend, A.Badalova /
The International Energy Agency (IEA) forecasts the achievement of peak oil production in the Caspian region in volume of 5.4 million bpd in 2025-2030. As noted in the report, the volume of production in 2009 amounted to 2.9 million bpd.
According to the IEA projections, oil production in the region will drop to 5.2 million bpd by 2035. Exports of oil from the Caspian region will also increase and will peak at 4.6 million bpd immediately after 2025.
According to the IEA 2010 World Energy Outlook, the Caspian region has the potential, which can make a significant contribution to ensuring global energy security by increasing the diversification of oil and gas supplies.
IEA predicts an increase in gas production in the Caspian region up to 260 billion cubic meters in 2020 from 159 billion cubic meters in 2009. Sources of production growth will be Turkmenistan, Azerbaijan and Kazakhstan.
According to IEA projections, natural gas exports from the Caspian region will grow to 100 billion cubic meters in 2020 and 130 billion cubic meters in 2035 compared to 30 billion cubic meters in 2009.
According to data provided by BP, the proven oil reserves in Azerbaijan as of the beginning of 2010 amounted to 7 billion barrels, Kazakhstan - 39.8 billion barrels, Turkmenistan - 0.6 billion barrels.