The Azerbaijan Ministry of Industry and Energy made changes in the countrys fuel and energy balance. They are currently submitted for approval by the countrys relevant ministries and departments. After completion of the process it will be produced to the Government, the Ministry rod Trend.
The changes touched mostly the volumes of gas intended for consumption. The size of the gas produced in Azerbaijan in 2006 was supposed at the level of about 5 billion 914 million cubic meters. This scope was planned together with the gas, handed over by the Azerbaijan International Operating Company (AIOC) and produced on the Azeri oil field, as well as with the gas which is supposed to be produced at the end of the next year from the gas condensate Shah-Deniz field. However, after negotiations with AIOC it was decided the company will hand over 3,3 billion cubic meters of gas to Azerbaijan from Azeri-Chirag-Gyuneshli and around 250-300 million cubic meters from the Shah-Deniz gas condensate field, which production will start late this year. The volume of the imported gas from Russia is planned at the level of 4,5 billion cubic meters at the price of $110 per 1000 cubic meters.
Under the forecasts for this year the State Oil Company of Azerbaijan (SOCAR) will extract about 8 million 750,000 tons of oil on the field under development. SOCAR is currently operating mainly for keeping the existing volumes of the oil production.