President of Azerbaijan Ilham Aliyev, in particular, said:

“Today I was informed by the French Total Company`s executives on discovery of huge gas deposit in the Absheron block of the Azerbaijan sector of the Caspian sea. In my turn, I want to extend this happy news to the public of Azerbaijan and congratulate all of you on this occasion. This is indeed a remarkable event. Discovery of vast gas reserves in Absheron block is great contribution to the development of Azerbaijan`s gas potential.

The Absheron deposit has been discovered by Azerbaijani geologists still in 60s of the past century. But taking into account the water depth we had no chance to continue the exploration then. As a result of realization of Azerbaijan`s oil strategy, as a result of the policy pursued by Heydar Aliyev now Azerbaijan`s opportunities have enormously increased. Currently, we have such drilling devices that allow carrying out drilling and exploration works elsewhere in the Caspian Sea.

The first international contract on the Absheron deposit was signed in 1997. The works yielded no result then, and in 2005 the contract was annulled. Nevertheless, we believed. Azerbaijani geologists, specialists of SOCAR believed that Absheron deposit have productive layers. This confidence was expressed also by our foreign companions. Thanks to this mutual confidence, in 2009 the Total Company of France and SOCAR have signed the second contract on the Absheron block. This is possibly a rare case in world practice to sign second contract on the same block. Explorations brought results we expected. I reiterate that a huge gas deposit has been discovered on Absheron.

This will enable us to go ahead with our gas strategy, to make known Azerbaijan as a gas exporter country over the world, and ensure interests of the Azerbaijani people. After long time, after decades Azerbaijan will show itself as a gas exporter in the world and it will perhaps gain strategic importance as a country.

Our energy policy aims at ensuring interests of the Azerbaijani people and to expand regional cooperation. Certain, significant steps were made in this direction. Today we have diversified energy-transport infrastructures. We have seven oil-gas pipelines. Today Azerbaijan`s oil and gas is delivered to the European and world markets through different routes. Azerbaijan was known traditionally as an oil country. Today Azerbaijan is important for the world as a gas exporter country. And we have to efficiently use this opportunity.

We have many plans. We are engaged in practical activities to expand our export opportunities. Sure, as of late this year all the transit questions will find solution and thus, there will be found new markets of Azerbaijani gas.

To this end, the European Union and Azerbaijan have successful relations, and effective cooperation. In January current year, Azerbaijan and the European Union have signed an important Declaration on the South gas corridor, and set up a working group. Current negotiations, I believe, will recently lead to good results. Simultaneously, discovery of the new huge gas deposit is colossal contribution to Azerbaijan`s energy security as well. We could completely ensure our energy security. The recently discovered “Umid” deposit has also great potential. It has 300 billion cubic meters gas reserves. And the works are successfully going in the Shahdeniz deposit, one of the largest as such known over the world. Preparations are already underway for the second phase development activities. We are having serious discussions on the item. In a word, Azerbaijan`s gas potential is of vital importance for the country, for the region and the world.

At the same time, we make concrete steps for gasification of the country. In the coming two years gasification questions in Azerbaijan have to find solution. Appropriate instructions have been assigned. Azerbaijan`s policy in this direction is adequate, right and exact, and it serves interests of the Azerbaijani people. Sure, we shall have such good news and in the coming years. Exploration-drilling works will be carried out in other deposits and thus, Azerbaijan will gain new opportunities to develop even more.

I once again congratulate all of the Azerbaijani people on this good occasion. This is, indeed, a very important and noteworthy event. This means that our country has great opportunities, immense potential and bright future.

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