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 Caspian Sea: "Our major gas reserves are located in the field "Shah Deniz". Recently discovered a new field "Umid", the potential of which is estimated at more than 300 billion cubic meters of gas. We have drilled two wells, of which natural gas is extracted. The programs for the extraction of gas from the field "Absheron". The company Total has assured that in 2021 will begin production of gas in the field "Absheron". In the near future Azerbaijan will be the main exporter of gas to the European market. Azerbaijan has fulfilled all of the programs in the oil and gas industry. We started in 1994 and today is the exporting country."
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."