Minister Natig Aliyev: “Only 19% of oil reserves were extracted in Caspian”

Minister Natig Aliyev: “Only 19% of oil reserves were extracted in Caspian”
# 15 October 2012 11:13 (UTC +04:00)
Aliyev stated that, Azerbaijan is among the top ten countries for its oil reserves and one of the leading extractors. At the same time, per head oil extraction makes 258.8 tons and Azerbaijan ranks 11th.

According to Aliyev, only 19% of current reserves were extracted in Caspian. In general, Caspian’s total oil reserves are equal to 48 bln barrels.

Aliyev stated, from oil extraction, per head GDP would be $ 18,000 in Kazakhstan, in 2035, $15,000 – in Azerbaijan. According to forecasts, annual oil extraction in Caspian will increase by 100 mln tons in 2015, 150 mln tons – in 2025.
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