Trend News Agency reports that Rovnag Abdullayev, president of State Oil Company of Azerbaijan (SOCAR), at the new technologies in oil and gas scientific conference, announced that according to forecasts, gas production in Azerbaijan will reach 20 billion cubic meters (excluding injection) by 2015 and by 2025, the figure will be 40 billion cubic meters.
As reported, according to Abdullayev, so far $50 billion had been invested in the PSA contracts in Azerbaijan.
The source informs that the company chief has also talked about SOCAR’s future plans and said, that the first ship will be launched in September 2013 at the company’s new shipyard and the construction of the new rig will be completed in 2014.