Azerbaijan is emerging as one of Caspian parts most important strategic export openings to the westerly and increasingly becoming an important exporter of oil and inhering vaunt. spell Azerbaijans importance as a supplier of natural gas and oil likely will increase in the future, the maintaind disputes with Armenia over the Nagorno-Karabakh region, as well as issues with Azerbaijans access to the Nakhchivan exclave continue to provide some political take a chance in the country. Furthermore, the conflicting claims over the maritime and sea bottom boundaries of the Caspian ocean between Azerbaijan and Iran also provide continued uncertainty, with Iran insisting on an even one-fifth allocation and challenging Azerbaijans hydrocarbon geographic expedition in disputed waters. Bilateral talks continue with Turkmenistan on dividing the seabed and contested oilfields in the middle of the Caspian, while discussions with Georgia continue on the alignment of their boundary at certain carrefour areas.
oil colour production in Azerbaijan recorded a evidential increase over the last few years and surpassed the 1 million bbl/d mark in 2009. Azerbaijans proven crude oil reserves are estimated at 7 billion barrels in January 2010, according to the fossil oil and Gas Journal.
The countrys largest hydrocarbon basins are located shoreward in the Caspian Sea, particularly the Azeri Chirag Guneshli (ACG) fields, which accounted for about 80 percent of Azerbaijans total oil output in 2009.
The State Oil Company of Azerbaijan Republic (SOCAR) is Azerbaijans state-owned oil and natural gas order and is responsible for producing oil and natural gas in Azerbaijan, operate the countrys two refineries, running the countrys pipeline system, and managing the countrys oil and natural gas imports and exports. Although the Ministry of Industry and Energy handles exports as well as exploration and production agreements with foreign companies, SOCAR is party to all of the...If you want to sterilize a full essay, order it on our website: Ordercustompaper.com
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