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Azerbaijan decreases oil and gas extraction

18 September 2012 11:33 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. In January-August, 2012, Azerbaijan reduced oil-gas extraction in comparison with 2011.

State Statistical Committee told APA that during the reporting period, 29.4 mln tons of oil and 11.4 bln cbm of gas was extracted in the country, down 7.3% and 34% from a year earlier. That is, 31.7 mln tons of oil and 17.2 bln cbm of gas was extracted during the first 8 months of in 2011.

Note that, Azerbaijan intedns to increase oil extraction in the coming 4 years. It is expected to extract 45,977.100 tons of oil in 2012; 45,896.600 tons in 2013; 49,562.900 tons in 2014; 50,956.600 tons in 2015.

As to gas forecasts, the volume of gas extraction in 212 will reach 28.280 bln cbm, in 2013 â€“ 29.220 bln cbm, in 2014 â€“ 29.540 bln cbm, in 2015 â€“ 29.310 bln cbm.

Remind that, Azerbaijan extracted 45.4 mln tons of oil and 25.7 bln cbm of gas in 2011, down 10.6% and 2% compared to 2010.