ID :
143550
Sat, 09/25/2010 - 14:38
Auther :
Shortlink :
http://m.oananews.org//node/143550
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AZERBAIJAN`s OIL RESERVES ‘MAY DOUBLE’
Baku, September 25 (AzerTAc). Azerbaijan`s state oil firm, SOCAR, has forecast the country`s oil reserves might double in the future.
According to SOCAR`s first vice-president Khoshbakht Yusifzade, Azerbaijan, which has oil reserves of 1.5 billion tons, might see the volume reach 3 billion tons.
“Last year oil production in the country made 50.4 million tons,” said Yusifzade, adding this year the volume of the oil produced would be “much larger”.
On Azerbaijan`s gas reserves, the SOCAR vice-president said it made 2 trillion cubic meters.
“The approximate gas reserves in our country are an estimated 5 trillion cubic meters. According to forecasts, gas production will be 28 billion cubic meters this year,” added Yusifzade.
According to SOCAR`s first vice-president Khoshbakht Yusifzade, Azerbaijan, which has oil reserves of 1.5 billion tons, might see the volume reach 3 billion tons.
“Last year oil production in the country made 50.4 million tons,” said Yusifzade, adding this year the volume of the oil produced would be “much larger”.
On Azerbaijan`s gas reserves, the SOCAR vice-president said it made 2 trillion cubic meters.
“The approximate gas reserves in our country are an estimated 5 trillion cubic meters. According to forecasts, gas production will be 28 billion cubic meters this year,” added Yusifzade.
