Bank Of Baku

UN Experts: The world energy security depends directly on Caspian oil and production perspectives

UN Experts: The world energy security depends directly on Caspian oil and production perspectives
# 01 December 2006 10:56 (UTC +04:00)
The report was discussed in 15th Annual Session "Sustainable Energy Policies: The key to energy security� of UNECE Committee on Sustainable Energy held in Geneva on November 28-30. The document says that today, Russia produces 9,6m barrel oil of 12 per cent of oil output per day. It is prognosticated that the production will reach to 11m a day in this country. The experts paid attention to the fact that new oil field will be developed in Caspian Sea, West Siberia and Sakhalin. The report also says that Iran owns 11, 5 per cent of world reserves. At present Iran produces 4m barrel oil. According to the prognoses, Tehran will double this number in 15-30 years. Caspian states- Azerbaijan, Kazakhstan, Turkmenistan and Uzbekistan produce 2, 1m barrel oil a day. According to experts’ judgment oil production in these countries will double in 5-10 tears. /APA/
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