Natig Aliyev: Oil companies may encounter difficulties in realization of mega-projects

The reason for this is the decline in oil prices

Baku. 2 June. REPORT.AZ/ "Oil prices in world market have fallen to their lowest levels of the 2000s.

If the process will continue for several years, the oil companies will face difficulties in the implementation of mega-projects. Report informs, Energy Minister Natig Aliyev said in Caspian Oil & Gas-2016 conference held in Baku.

The minister said that oil production in Azerbaijan increased by 6 times compared with the 1990s: "If in 1996-1997 we produced 9 mln tons, now this figure has increased by 6 times. In 2014, oil production was 51 mln tons, in 2015 - 41.7 mln tons. Last year 29 bln cubic meters of gas produced."

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