TODAY.AZ / Politics

Azerbaijan to carry out appraisal of 10 big oil and gas fields by 2007

05 July 2005 [08:43] - TODAY.AZ
“The appraisal of 10 biggest oil and gas fields in Azerbaijan by 2007 under the State Program on development of fuel and energy complex in Azerbaijan (2005-2015)”, the Ministry of Fuel and Energy told Trend.
"It is planned to carry out appraisal in the onshore and offshore fields. The results of work enable to receive more concrete data on the amount of hydrocarbons and capital expenses needed for their extraction,” the Ministry underlined.

According to geologists’ estimations, there is 3.7 bn tons of industrial reserves in Azerbaijan’s balance with 1.7bn tons of recoverable resources. In accordance with the state program the appraisal of all fields in Azerbaijan is to complete through 2016.


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