$92 bln invested in oil and gas sector of Azerbaijan so far

Baku. 25 April. REPORT.AZ/ So far $ 92 bln have been invested in the oil and gas sector of Azerbaijan since 1995. Report informs, Deputy Vice President of the State Oil Company of Azerbaijan Republic (SOCAR) Vitali Beylerbeyov told.

According to him, production of crude oil has declined in last few years: "Over the past few years, oil output decreased by 7-10%. I think the process will stabilize in 2020."

"Today, 10 billion cum gas and 2.5 mln tons oil are produced from "Shah Deniz" field. Up to $ 30 billion have been invested in Azeri-Chirag-Gunashli fields until 2016, over 400 wells have been drilled there," SOCAR official stated.