Azerbaijan tries to increase gas extraction and keep oil extraction at a stable level

​The current goal on the development of energy resources of Azerbaijan is to keep oil extraction at the stable level and increase gas extraction.

The Minister of Energy, N. Aliev, said that the peak of oil extraction was in 2010 – 51 mln tons, then the extraction started to fall and they have a goal to keep it at a stable level.

The fall of oil extraction is a natural development of events in the oil sector, he said.

The country has a good potential to increase gas and condensate production.

After Shakh-Deniz-2 there will be a third stage of development of this deposit; Apsheron, Umid and other deposits. There are good perspectives of development of new condensate deposits, he said.

The first Vice-President of SOCAR, Kh. Yusifadze, said that the total gas extraction from Shakh-Deniz made up 70 bln cubic m from the start of its development.

Within that period 18 mln tons of condensate were extracted at Shakh-Deniz. Currently the daily extraction is 30 mln cubic m  of gas and 7 thousand tons of condensate, he said.