By RIA Novosti
Baku : Azerbaijan plans to increase oil production by 27% and natural gas output by 64%, year-on-year, in 2008, the country’s president said on Wednesday.
The South Caucasus state produced a record 41.7 million metric tons of crude (840,000 bbl/d) and 11 billion cubic meters of natural gas last year.
“Output will reach 53 million tons of crude [1 million bbl/d] and some 18 billion cubic meters of natural gas this year,” said Ilkham Aliyev, on an official visit to Poland.
He said Azerbaijan had turned into an oil and gas producer and exporter, including to EU markets. The president also pledged to expand production in the future.
“Producers and consumers should develop active cooperation in this field, particularly in the gas sector, and both parties’ interests should be determined to the maximum,” Aliyev said.
Aliyev, whose visit started on Tuesday, was in Poland at the invitation of Polish President Lech Kaczynski.