Source Pravda.Ru

Azerbaijan steps up oil production

6.454 million tons of oil and natural gas liquids were produced in Azerbaijan in January through May 2003, a 3.6% improvement as compared to the same period of 2002. 2.747 million tons of oil were produced by the Azerbaijani International Operations Company, or the AIOC, which works at the Chirag oil field.

According to forecasts for 2003, Azerbaijan is expected to produce a total of 15.25 million tons of oil, including 8.8 million tons from oil fields run by the State Oil Company of Azerbaijan and 6.45 million tons produced by the AIOC.

Forecasts say the amount of gas extracted in 2003 will reach 5.04 billion cubic meters.

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