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Gas extraction to be doubled during next 10 years in Azerbaijan

04 August 2011 11:33 (UTC +04:00)

According to State Statistical Committee, oil and gas extraction rose by 2.3 times and 4.6 times compared to a year earlier. So that, Azerbaijan has extracted 50.9 mln tons of oil and 26.2 bcm of natural gas in 2010, while these were 22.2 mln tons and 5.7 bcm in 2005.

Note that, the oil extraction is forecasted to reach 51.4 mln tns in 2011. At present, per day oil extraction is 1.1 mln barrels. This number is expected to reach 1.3 barrels in 2014.

About blue fuel, the gas extraction is predicted to make 28.3 bcm in 2011, 29.8 bcm in 2012, 31.1 bcm in 2013, 32.2 bcm in 2014 and 33 bcm in 2015. At the same time, according to forecasts, Azerbaijanâ€™s annual gas production will reach 50-60 bcm after 2020. Annual gas production is expected to make 40 bcm after exploitation of Shahdeniz II in 2017.