TODAY.AZ / Business

Highest quantity of oil in Azerbaijan will be produced in 2005

30 April 2005 [16:28] - TODAY.AZ
The highest quantity of oil to be produced in 2005 in Azerbaijan - 20 mln 293 tons.
The president of the state oil company (SOCAR) Naik Aliyev informed about this, speaking at 29 April in Milli Mejlis, the agency Trend reports.   

He said that this result was achieved thanks to successful realization of the oil strategy of Azerbaijan.

"For whole history of Azerbaijan fact of production of such quantity of oil was fixed during the second world war. Starting from 1994, as a result of stability created by Heydar Aliyev in the state, foreign investors invest finances to development of hydrocarbon sites of Azerbaijan", N. Aliyev indicated.

SOCAR president mentioned 8 mln. 976,4 thousand tons of oil was  produced in 2004.

This is by 226 thousand tons more than it was planned. 5 bln cubic meters was produced for this period, this is by 176 mln more than was expected", N. Aliyev mentioned.   

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