Bank Of Baku

Azerbaijani sector of the Caspian Sea holds 5 trillion tons of hydrocarbons in reserve

Azerbaijani sector of the Caspian Sea holds 5 trillion tons of hydrocarbons in reserve
# 15 September 2009 11:36 (UTC +04:00)
Baku. Nijat Mustafayev - APA-ECONOMICS. The Azerbaijani sector of the Caspian Sea holds about 5 trillion tons of hydrocarbons in reserve and provides a large potential to the country for boosting natural gas production, said SOCAR’s President Rovnag Abdullayev told Gas Infrastructure World Caspian-2009.

He added the country increased gas production from 5 billion to 20 billion cubic meters in 2004-2008.

"This shows that Azerbaijan has great potential. We also expect significant volumes of gas production from other deposits. For example, 400-500 billion cubic meters of gas is expected to come from Deepwater Guneshli ", he noted.
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