TODAY.AZ / Politics

President Aliyev: We have enough oil, let no one worry [UPDATE]

08 November 2017 [17:38] - TODAY.AZ

By  Trend

A solemn ceremony on the production of two billion tons of oil in Azerbaijan is underway at the Heydar Aliyev Center on November 8.

President of Azerbaijan Ilham Aliyev attended the ceremony. 

Delivering a speech at the event, President Aliyev said that the economic independence is the basis of the political independence. 

"Today we have ensured economic independence," the head of state said. "The economic independence is the basis of the political independence. If we are dependent on someone, we can never pursue an independent policy, and we can never express our principal position as we do today. The economic independence has led to political independence, and today Azerbaijan is one of the rarest countries in the world pursuing an independent policy. The economic independence is ensured by oil workers' efforts. Therefore, everyone should know that the oil and gas sector of our country will be the main support for many years. Therefore, the Azerbaijani state and the oilmen should put all their efforts to develop this sector."

President Aliyev reminded that a solemn ceremony was held on the occasion of the production of one billionth ton of oil at the Opera and Ballet Theater under the chairmanship of Heydar Aliyev in 1971

"Today, in independent Azerbaijan, in this magnificent center, which is named after the National Leader, we celebrate the production of 2 billionth tons of oil. Independence is our greatest asset. Only during the years of independence, Azerbaijan achieved great peaks. Only during the years of independence the people became the owner of their natural resources. I believe that holding today's ceremony at the Center, bearing the name of the National Leader, is natural, because it is our main meeting hall, our main center - and it is also symbolic. Because Heydar Aliyev's services in 1970-1980s and 1990s provide Azerbaijan's realities. We, in turn, will do our utmost to further develop the oil and gas industry in Azerbaijan."

President Aliyev stressed that Azerbaijan has enough oil.

"They used to say that "there is no oil in Azerbaijan, there is no need to build the Baku-Tbilisi-Ceyhan pipeline, which will never justify itself"," President Aliyev said. "Look, we have been producing oil since 1997 together with the consortium for 20 years. As I mentioned, the consortium extracted 460 million tons of oil only from the Azeri-Chirag-Guneshli. But there are much more proven reserves. The extension of the contract until 2050 indicates that we have enough oil, let no one worry.

"They wanted to connect the same topic with gas, yet the malefactors, the unfriendly forces, rumored that there is no gas in Azerbaijan. However, the Shah Deniz-2 project is a reality today. I have to note that our approved, proven oil reserves are about 1.5 billion tons, and the forecast is 2 billion tons. Our approved gas reserves are 2.6 trillion cubic meters, the forecast is approximately 3-4 trillion cubic meters. The development of the Azeri-Chirag field shows that we always display very conservative figures. I remember well that when the contract was signed in 1994, the reserves of the Azeri-Chirag-Gunashli fields were estimated at 511 million tons. Even at that time I, as a young worker at the State Oil Company, was surprised - how they can accurately calculate this - 511. Why not 510 or 512, but 511? Of course, this was a conventional figure. However, today's calculations show that the reserves of the fields are at least two times more than this minimum. 462 out of 511 conventional numbers have already been withdrawn. Until 2050, how much oil will it be?

That's why I am sure that our predictions will be confirmed in reality. Because we are very conservative in evaluating available resources. The Azeri-Chirag-Guneshli field will operate up to 2050. I am sure that the Shah Deniz field will operate at least 100 years later. At present, we expect gas production from the Absheron field in the near future. Umid and Babek deposits have huge prospects. The State Oil Company of Azerbaijan (SOCAR) will work very actively in these fields next year. Some work is being done. Much more scaly work will be done," he said

Then president of Azerbaijan’s State Oil Company SOCAR Rovnag Abdullayev, head of platform # 10 of the "28 May" Oil and Gas Production Department Gadim Aliyev, BP regional president for Azerbaijan, Georgia and Turkey Gary Jones, first-year student of the Baku Higher Oil School Mahira Asadova, vice-president of SOCAR Khoshbakht Yusifzade also delivered speeches.

Yusifzade was awarded with the Labour Order of the first degree for his long and fruitful activity in the Azerbaijani oil industry, upon President Aliyev’s decree.

The president awarded Yusifzade with the Labour Order.

In conclusion, a video footage about the history of the Azerbaijani oil industry was demonstrated.


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