Denis Lemarchal: Cost of oil production increased by 5 times over past few years

Baku. 4 November. REPORT.AZ/ Over the past few years, the cost of extracting a barrel of oil has increased by 5 times. Report informs, executive director of Total in Azerbaijan Denis Lemarchal said that at the SPE Annual Caspian Technical Conference-Exhibition today.

D.Lemarshal cited several reasons for the growth of costs: The increase in costs affected by inflation, environmental issues, technical safety and other factors.That is why, since 2014, our basic approach is associated with settlement of costs."