OREANDA-NEWS. October 11, 2011. Azerbaijani government forecasts that in 2011 oil and gas extraction will decrease in the country.

Finance Ministry of Azerbaijan reports that the draft conception of Azerbaijan’s socio-economic development for 2012 and up to 2015 assumes that in 2012 the country will produce 45.6 million tons of oil versus record production of 2010 (50.8 million tons). In 2012 oil production will reach 46 million tons.

In 2011 gas extraction will decrease down to 25.3 bn cu m from 26.2 bn cu m in 2010. In 2012 it will considerably rise up to new absolute record – 28.3 bn cu m.