Azerbaijan to increase oil production in 2014 - minister

February 24, 2014

Azerbaijan is planning to increase its oil production in 2014, Energy Minister Natig Aliyev said, Azernews reported on February 22. He added that Azerbaijan is predicted to extract 43 million tons of oil in 2014. "Our main goal is to maintain the production volume at the level of 40-45 million tons," he said. "The necessary work is being carried out."

He went on adding that: "Thus, it was predicted to produce a little more than 41 million tons of oil in 2013, but the actual volume exceeded 43 million tons of oil. "The main oil volume fell to the block of oil and gas fields Azeri- Chirag-Gunashli (ACG) and Shah Deniz condensate field, developed jointly with foreign partners. As for gas production, Aliyev said that Azerbaijan has achieved great successes in this area. The production volume amounted to 29 billion cubic meters in 2013. This figure will increase in the future.

Copyright: Azernews, 2014