In 2010, oil production in Azerbaijan will reach 65 million tons - Minister

Yesterday in Vienna at the OPEC headquarters members of cartel and non-member countries Azerbaijan and Russia came together on 152th OPEC conference to discuss instabilities in the oil markets and whether to reduce oil production for cartel countries.

Talking on behalf RF Iqor Sechin vice-prime stated that it is important now to attract independent oil producing countries like Kazakhstan, Azerbaijan, Norway and Brazil to support stabilizing oil markets. In his speech minister of industry and energy of Azerbaijan, Natiq Aliev said that the main principles of energy policy of Azerbaijan is to meet country's needs and demand of energy resources, to ensure complete energy security of the country, to increase the role and importance of Azerbaijan government in the world economy and to create reliable east west energy corridor for delivery energy recourses to European market. Stability of supplies and security of the energy transportation to the world markets, as the most important and esseioncial factor of sustainable development, meet the interests of the entire international community. A total of 45 million tons of oil was produced in Azerbaijan in 2008. Production will increase up to 65 million tosn in 2010. Proved industrial and recoverable reserves of Azerbaijan are 2,2 billion tons of oil on existing oil fields and can be increased up to 5 billion tons in case of successful exploration works. The role and importance of Azerbaijan for the world economy as one of the biggest energy producing country, creating reliable East-West energy transport corridors for delivering energy recources to world markets become more and more evident, Kazinform refers to Trend Capital.