The Azerbaijan State News Agency

ECONOMY

AZERBAIJAN HAS UNEXPLORED FIELDS TOO

25.09.2006 [18:45]
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According to the State Oil Company of Azerbaijan Republic, while exploration in the Shahdeniz field is not completed yet, over 1 trillion cubic meters of gas and over 200 million tons of the condensate have already been discovered here. It is the biggest gas-condensate field in Azerbaijan. It is 8 times the size of Bahar field, which has so far been regarded as the biggest.

New fields are expected to be discovered in the Caspian deepwater stratums. Umid, Babek, Nachchivan fields are among them.

Proven oil and gas reserves in the Azerbaijani sector of the Caspian will last at least 50 years.

There are plenty of unexplored fields, which will come on stream by means of the new technologies. Moreover, the search for alternative energy sources for the next generations are underway.