Bank Of Baku

BP to increase oil extraction in Azerbaijan

BP to increase oil extraction in Azerbaijan
# 24 October 2012 09:42 (UTC +04:00)
Baku. Ali Ahmadov – APA-Economics. As a result of the London talks, SOCAR and BP reached initial agreements on stabilization of oil extraction in Azeri-Chirag-Guneshli.

President of the State Oil Company of Azerbaijan Rovnag Abdullayev says currently, a program of stabilization of oil production in ACG is under preparation process. In 2013, oil extraction is forecasted to reach 33 mln tons, in 2014 - 35 mln tons.

It is also planned to develop a long-term program covering 2014-2024, which will maintain oil extraction stable in volumes of 33-34 million tons by 2020.
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