Azerbaijan, Baku, Nov 26 / Trend E.Ismayilov/
The volume of gas production in Azerbaijan will reach 50 billion cubic meters a year by 2014, first vice-president of State Oil Company of Azerbaijan (SOCAR) Khoshbakht Yusifzadeh said at the meeting of the Caspian-European Integration Business Club (CEIBC) on Monday.
There is a great potential to increase gas production in Azerbaijan, in particular a number of gas-condensate fields and promising structures that will significantly increase the volume of production in the country in the future," the vice president said.
Yusifzade noted that newly opened fields in Azerbaijan - Umid and Absheron, as well as such promising structures as Babak, Shafaq-Asiman, Nakhchivan and other are the evidence large gas reserves.
Work is carried out, along with the increase in gas reserves in the country, to find new oil fields. In particular, work is underway to study the Mesozoic. There are also talks with foreign companies.
Yusifzade noted that the block Azeri-Chirag-Guneshli is the largest oil and gas field in Azerbaijan. Some 289 million tons of oil, 144 million tons of which accounts for profit oil of Azerbaijan was produced from the block. Some 200 million tons of oil from the total volume, produced on the block were transported via the Baku-Tbilisi-Ceyhan pipeline.