SOCAR President: “Azerbaijan’s gas production quintupled in past 25 years”

Azerbaijan’s gas production quintupled in the past 25 years, and increased by 30.3% in the past 11 years, SOCAR President Rovnag Abdullayev said in his article published in ‘Azerbaijan’ newspaper.

SOCAR President said gas production is forecasted to grow by 20% by the end of this year: "This growth will continue in the next years too. Azerbaijan sector of the Caspian Sea is rich of gas and condensate reserves. Exploration and production works in Shahdeniz, Absheron, Garabagh, Umid fields promise successes. We also have great expectations from Babek, Shafag, Asiman, Ashrafi, Dan Ulduzu, Aypara structures. Azerbaijan, which was a gas importing country 25 years ago, is now a new gas source, gas exporting country."

He said that gas export quintupled in the past 11 years, while oil production increased more than fourfold in the past 25 years.

"This is a great result and manifests itself in all fields of the country’s life. As a result of effective use of oil revenues, education, science and health enterprises were modernized, social services improved, urbanization and modern city infrastructure developed. GDP grew 216 times in the past 25 years, poverty level dropped tenfold," Abdullayev said.