Caspian Sea oil to make 35 % of world oil production in 15 years

Jun 09, 2006 02:00 AM

Caspian Sea oil will make 35 % of world oil production in next 15 years and Brand oil extracted in Northern Sea will be substituted with Caspian and Russian oil.
Ardij Durdu, Global Union Energy Managing Director for Caspian and Black Sea regions, has said in his speech at XIII International Caspian Oil & Gas Exhibition 2006 in Baku.

Durdu has said that the French market buys 90 mm tons oil from this region only in a year.
"Primary information says that Caspian oil resources are estimated 17 bn barrels. This is a less figure because Iranian, Russian and Turkmenistan sectors are still explored."

Saying that delay is expected in the construction of Trans Siberian oil pipeline in Russia for economic causes, Mr Durdu gas said marines in Caspian countries and possibilities of ports are not able to realize current potential now.
"Big tankers cannot moor ports. In spite of this, smaller tankers are bought. Besides, there is high rate of railway transportation. More than half of 15 mm tons goods transported from Azerbaijan have been oil and oil products so far during this year."

Mr Durdu has added that Port Batumi will be able to receive 20 mm tons oil annually after rehabilitation.
Kazakhstan ports are also improved and it is intended to increase annual potential from 15 mm tons to 40 mm tons.

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