Azerbaijan to increase oil and gas production in 2015

Oil&Gas Materials 24 October 2011 16:49 (UTC +04:00)

Azerbaijan, Baku, Oct. 24 / Trend , E.Ismayilov /

Based on forecasts, Azerbaijan will produce 51 million tons of oil in 2015 compared to about 45.6 million tons in 2011, the draft budget for 2012 and the following three years reads.

The document was submitted to the Azerbaijani parliament for consideration. Oil production in the country amounted to 50.8 million tons in 2010.

The country's oil production is expected to reach about 46 million tons in 2012 compared to about 45.9 million tons in 2013 and about 49.6 million tons - in 2014, the document reads.

Azerbaijan's gas production is expected to grow in 2015. Particularly, in 2015 Azerbaijan will produce 29.3 billion cubic meters of gas compared to 25.26 billion cubic meters in 2011. Gas production in the country amounted to 26.24 billion cubic meters in 2010.

Based on the forecasts, the 2012-gas production is expected to reach 28.3 billion cubic meters compared to 29.22 billion cubic meters in 2013 and 29.54 billion cubic meters - in 2014.