Oil production in Caspian region to reach 170 mln. tonnes in the next 3-5 years

Oil production in Caspian region to reach 170 mln. tonnes in the next 3-5 years
It is expected that the volume of oil production in the Caspian region will increase by 20 mln. tonnes in the next 3-5 years, General Director of Transneft Service JSC Maksim Murashko said at the 4th SOCAR International Caspian and Central Asia Downstream Forum – Trading, Logistics, Refining, Petrochemicals, ONA reports.

According to him, currently, the annual oil production in the Caspian region is nearly 150 mln. tones.

"According to the forecasts, this amount will be 170 million tonnes in the next 3-5 years and this will have an impact on the volume of oil exported from the region. 116 mln. tones of oil are exported from Caspian per year. Azerbaijan and Kazakhstan are among the main exporters,” Maksim Murashko stated.


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