President Ilham Aliyev: We have very legitimate hopes that we may enjoy second very important oil boom in Azerbaijan

"We are increasing gas production and decreasing oil production. But we have plans to stabilize oil production and even to increase it," said President of Azerbaijan Ilham Aliyev as he responded to questions from business representatives from various countries during an event titled "Azerbaijan Executive Breakfast," held as part of the annual meeting of the World Economic Forum in Davos, Report's correspondent in Davos informs.

Noting that it is premature to talk about that, the Azerbaijani President said: "If exploration projects conducted by international energy companies bring good results, we have very legitimate hopes that we may enjoy a second very important oil boom in Azerbaijan."