Baku. 29 April. REPORT.AZ/ Azerbaijan ranks 10th among the world countries on production, consumption, processing and transportation of oil resources. Report informs, the Minister of Energy of the Republic of Azerbaijan Natig Aliyev said in his speech at the III Global Forum of Open Societies.
According to N. Aliyev, during the ten-years oil production increased several times: "10 years ago, oil production in Azerbaijan was at a very low level. Last year, Azerbaijan produced 42 million tons of oil. In 2003, Azerbaijan produced 5 bln. cubic meters of gas, in 2014 - 29 bln. cubic meters of gas. In the world growing importance of natural gas as an energy resource. Azerbaijan has great potential and reserves from existing fields are estimated at 2.6 trillion cubic meters of gas. That means, that we can maintain gas production at the same level for more than 90 years."
According to the minister, the French company Total in 2021 will start gas production at the field "Absheron" in the
Commenting on the projects of TAP and TANAP, Energy Minister said that the country will be drilled 26 new gas wells: "TANAP pipeline length of 1800 km is built in very difficult conditions. TAP project is also important. This will allow us to supply gas to Europe. Now we produce 5 million. cubic meters of gas from each well and an additional 26 wells will be drilled. TAP project is very important for us."