Azerbaijan increases production of natural gas

The Azerbaijani state oil company SOCAR, started exploiting the gas well Umid in the Azeri sector of the Caspian Sea. Experts forecast that there are reserves which could last for over one-hundred years. Azerbaijan is further increasing its gas production. By 2020, the country will be exporting 25 billion cubic meters of gas annually; while by 2025 – 40 billion cubic meters.