Over 45m tons of oil to produced this year
Azerbaijan will produce 46-47 million tons of oil
this year, Natig Aliyev, Minister of Industry and Energy, has told
journalists.
Aliyev said Azerbaijan had a great potential to increase its oil production. "If we don`t encounter technical problems, we may produce 65m tons of oil a year quite soon due to the great potential of new discoveries."
Last year, Azerbaijan produced 44.5m tons of oil. While the forecast for 2008 was put at 52m tons, it could not be fulfilled due to technical problems in the Central Azeri field, which is under development by a consortium of foreign companies as part of the Azeri-Chirag-Gunashli project.
A gas leak was discovered at Central Azeri in September 2008. It suspended oil production in 13 wells and gas production from five sites. On December 19 production was partially restarted, and 12 of the oil wells are currently back in operation.
Aliyev said Azerbaijan had a great potential to increase its oil production. "If we don`t encounter technical problems, we may produce 65m tons of oil a year quite soon due to the great potential of new discoveries."
Last year, Azerbaijan produced 44.5m tons of oil. While the forecast for 2008 was put at 52m tons, it could not be fulfilled due to technical problems in the Central Azeri field, which is under development by a consortium of foreign companies as part of the Azeri-Chirag-Gunashli project.
A gas leak was discovered at Central Azeri in September 2008. It suspended oil production in 13 wells and gas production from five sites. On December 19 production was partially restarted, and 12 of the oil wells are currently back in operation.
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