Azerbaijani oil extraction to exceed 46 million tons in 2011

Azerbaijan expects to extract over 46 million tons of oil and over 27 billion cubic meters of gas in 2011, Khoshbakht Yusifade, Vice-President of the State Oil Company of the Azerbaijani Republic (SOCAR) for geology, geophysics and development of fields, said, Trend reports.

Earlier forecasts said over 50 million tons would be extracted this year.

Reduction of oil extraction is a result of reconsideration of the program for drilling at the Azeri-Chirag-Guneshli field.

SOCAR head Rovnag Abdullayev said that an incident happened at the Central Azeri Platform in late 2008, resulting in reduction of extraction.