Azerbaijan, Baku, Sept. 22 / Trend E. Ismayilov /
The oil production volume is forecasted at more than 46 million tons, while gas reserves - more than 27 billion cubic meters in Azerbaijan this year, SOCAR first vice-president on geology, geophysics and mining Khoshbakht Yusifzade told media on Thursday.
It was predicted that more than 50 million tons of oil will be extracted this year.
The oil production volumes will hit 46-50 million tons next year, he said.
The reduction in oil production in Azerbaijan is related to the revision of the program of drilling on the block Azeri-Chirag-Guneshli fields, SOCAR head Rovnag Abdullayev said earlier.
Abdullayev said the oil production of 50 million tons is optimal volume for Azerbaijan.