Vahid Alakbarov: "$50 billion invested in Caspian oil and gas projects"

About $50 billion was invested in oil and gas projects. Russian LUKoil Company President Vahid Alakbarov has told at XIII International Caspian Oil $ Gas Exhibition today in Baku.

Mr. Alakbarov has said that expansion of Caspian Pipeline Consortium and the completion of Baku-Ceyhan pipeline construction have opened broad opportunities to obtain Caspian energy resources.

He has also stated that his company is now studying 10 prospect structures in Caspian Sea adding that there are 6 reservoirs found that means nearly 150 million tons oil and 700 billion cubic meters gas resources, APA reports.