Azerbaijan itself ought to get involved in the development of the existing fields with the estimated oil reserves, Natik Aliyev, the Minister for Industry and Energy, told Trend.
It is necessary to render state assistance to the development of some fields such as Ashrafi-Dan Ulduzu, as oil production here at the expense of the government can bring more profits to Azerbaijan. The foreign companies might not to hold shares, but render services, he noted.
According to Aliyev, since 1993 the risks of exploration and exploitation on potential fields. Earlier we valued our projects under PSA at the price of $14-16 per barrel. Now we do the calculations at the price of minimum $40 per barrel, he said.
The Minister said that the existing policy should be maintained in regard to exploration work to put every risk on foreign companies. Our policy in regard some fields such as Araz-Alov-Sharg, Nakhchivan, Absheron, or D-11 and D-12 blocs, which have been presented to foreign companies, should remain unchanged. The exploration work is to be done here and there is a big geological risk. We should direct the companies with the relevant world experience to the development of these fields, Aliyev underlined.