$15 billion invested in oil and gas projects in Azerbaijan
Up to $15 billion has been invested in the oil and gas projects in Azerbaijan till now. From this amount $9 billion have been invested in the Azeri-Chirag-Gyuneshli (ACG) fields development project, the Azerbaijan Minister of Industry and Energy, Natig Aliyev said, Trend reports.
According to him, 22,2 million tons of oil, 5,8 billion cubic meters of gas, 22,3 billion kWt/h of power were produced in Azerbaijan last year. The oil production has grown practically twice since 1991.
As the Minister noted, in 2006 in the framework of the ACG fields development the average oil production will make up 430,000 barrels. Out of this amount, from В"ChiragВ" - 138,000 barrels, from Central Azeri 226,000 barrels and from the West Azeri- 75,000 barrels of oil will be extracted.
According to Aliyev, 5 million barrels of oil from 10 millions required are pumped currently into the Baku-Tbilisi-Ceyhan (BTC) main export pipeline. Construction works within the first phase of the Shah-Deniz field development are complete by 91,5%, in construction of the South-Caucasus gas pipeline - 93,4% of works.