Azerbaijan set to raise oil output 27 %, gas production 64 % in 2008

Feb 27, 2008 01:00 AM

Azerbaijan plans to increase oil production by 27 % and natural gas output by 64 %, year-on-year, in 2008, the country's president said. The South Caucasus state produced a record 41.7 mm tons of crude (840,000 bpd) and 11 bn cm of natural gas last year.
"Output will reach 53 mm tons of crude [1 mm bpd] and some 18 bn cm of natural gas this year," said Ilham Aliyev, on an official visit to Poland.

He said Azerbaijan had turned into an oil and gas producer and exporter, including to EU markets. The president also pledged to expand production in the future.
"Producers and consumers should develop active cooperation in this field, particularly in the gas sector, and both parties' interests should be determined to the maximum," Aliyev said.

Aliyev was in Poland at the invitation of Polish President Lech Kaczynski.

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