BAKU, Azerbaijan, April 10
Trend:
A total of 37.5 million tons of oil and 35.6 billion cubic meters of gas worth 29.1 billion manat ($17.1 billion) were produced in Azerbaijan in 2019, Trend reports referring to a report on the activity of the Azerbaijani Cabinet of Ministers as of 2019.
In accordance with the report, 83.1 percent of oil products and 84.2 percent of gas accounted for the enterprises with foreign investments operating in the oil and gas sector.
Sixty-four percent of investments made in the industrial sector accounted for the oil and gas sector in 2019.
The production volume of oil products increased by 1.5 percent in 2019 compared to 2018.
Revenues from the export of oil products amounted to $384.5 million ,while revenues from sales in the domestic market reached 2.8 billion manat ($1.6 billion).
In accordance with the report, in 2019, oil production in Azerbaijan increased by more than 2.4 times, gas - by 6.9 times compared to 2003.
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