Azeri Oil Nearing Its Peak

According to analysts at Raymond James & Associates, in 2008 the Caspian will provide slightly more than 1% of world demand while OPEC will provide the world oil demands for 35 - 45%.

Also forecasts from the Director of the Azerbaijan scientific-research institute, Mr. Bagir Suleymanov, say maximum oil production in Azerbaijan will take place in 2009. Then 55 MM tons of oil annually may be produced. Natural gas production, with a volume of 20 bn cubic meters, will take place expectedly in 2011.