ECONOMY


OIL PRODUCTION TO HIT 30 MILLION THIS YEAR

The oil production in Azerbaijan is expected to hit 30 million tons in 2006, touching the record level ever seen in the oil industry. The yearly oil production in Azerbaijan is scheduled to exceed 60 million tons within the next five years.

26 oil contracts have been sealed since signing the Contract of the Century with $20 bln invested in the economy.

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