Azeri oil plans

The Azerbaijan state oil fund and Azerbaijan international operations company have created a consortium to extract oil from the Azeri sector of the Caspian Sea. This consortium has announced its plans for 2009, and Executive Director of the oil fund Shakhmar Movsumov has made them public.

Movsumov says the consortium will extract 35 million tonnes of oil from the Azeri-Ghirak-Giuneshli platform in 2009. Last year the platform produced less then 34 million tonnes of oil.