"Since 1997, Azerbaijan has been supplying oil and gas to the EU markets. The main pipeline through which oil is exported to the EU is Baku-Tbilisi-Ceyhan. As of May 1, 458 million tons of energy resources have been exported through it," Yusifzade noted.
He said that so far, $45 million has been invested in the Azeri-Chirag-Gunashli (ACG) field and the same amount will be invested in the future.
He also noted that the holding of the Caspian Energy Forum and Exhibition will contribute to the expansion of ties between the oil and gas industry players.
According to the SOCAR vice-president, the energy forums and exhibitions held over the past 29 years have contributed to attracting new technologies and innovations in the field of oil and gas production to the country.
"Besides, a number of foreign companies were able to get acquainted with Azerbaijan's experience in oil and gas production," Yusifzade added.
More about: SOCAR
