Bank Of Baku

Azerbaijan to increase oil extraction gradually during next 4 years

Azerbaijan to increase oil extraction gradually during next 4 years
# 26 October 2011 11:37 (UTC +04:00)
Baku. Nijat Mustafayev – APA-Economics. Azerbaijan will increase oil extraction during next 4 years, this was reflected in the state budget project for 2012 submitted to Milli Majlis.

According to project, 45,551,300 tons of oil will be extracted I 2011, down 10.3% from 2010. However, Azerbaijan intends to increase oil extraction during next 4 years. So that, 45,977,100 tons of oil are expected to extract in 2012, 45,986,600 tons – in 2013, 49,562,900 tons in 2014, 50,956,600 tons in 2015.
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