ECONOMY


GOOD PERSPECTIVES EXPECTED FOR AZERBAIJAN

Prof. Peter Davis, the Vice-President and Chief Economist of BP group of companies, stated at the July 8 press conference in Moscow dealing with the statistical report on global energy, that within the next 4-5 years Azerbaijan is expected to become one of the rapidly growing and advancing oil countries. He concentrated on the issue of transportation of the Caspian energy resources pointing out huge reserves of oil discovered but not completely developed here. International investors co-operate with Azerbaijan and Kazakhstan both in exploration work and financial issues, and organization of works and project management. Speaking on BTC MEP prospects, Peter Davis noted that it has a great future, and will bring large dividends to Azerbaijan. According to him, if everything goes according as scheduled, the construction will be completed in 15 months.

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