Baku. Agshin Rafigoglu – APA-Economics. 40% of GDP in Azerbaijan falls to share of oilsector, while it was 66%, said the SOCAR Deputy Vice-President Vitali Baylarbayov at the Azerbaijan Investment Summit.
He says Azerbaijan will drill new wells this year: “At the same time, old wells will be repaired. Intensive works are being carried out in Absheron field. This field will produced a large volume of gas and bring investments to the country’s economy”.
Baylarbayov said that SOCAR is producing condensate in Umid field: “This field also will be developed. This and other fields’ gas will be pumped in BTC pipeline. These resources can be used after 2020”.
Most of fields in Caspian Sea have been exploited since 1950: “In the future, Kepez field will be launched”.
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