Oil reserves may more than double: minister
Azerbaijan`s proven oil reserves may be increased
from the current 2 billion barrels to 5 billion barrels due to
additional exploration work, Natig Aliyev, Minister of Energy and
Industry, has said.
The South Caucasus republic will export about 208 million tons of
oil over the next four years, Aliyev told a meeting of energy
ministers held on the sidelines of last week`s international energy
summit in Baku.
"Azerbaijan is ready for cooperation and is the leading regional
state on energy. We support many projects in the region that will
allow the ensuring of European energy security," Aliyev said.
The ministerial was also attended by representatives of 22
countries and the European Union. Creating the Asia-Caucasus-Europe
corridor was among the issues discussed.
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