Many fields in Azerbaijan and the wider Caspian region have been developed and produced for decades, said SOCAR Vice President Babek Huseynov during his speech at the "SPE Caspian Technical Conference", APA-Economics reports.
"However, they still remain a key component for energy security, economic stability and the future of the region. We need new ideas, modern technology, and new skills to maintain their productivity," Babek Huseynov noted.
He added that the Caspian basin remains one of the most interesting and important regions from a technical and strategic perspective.