Davos: President of Azerbaijan Ilham Aliyev has expressed optimism about the potential for a significant increase in oil production in the country. During the 'Azerbaijan Executive Breakfast,' part of the World Economic Forum's annual meeting in Davos, he addressed questions from international business representatives. President Aliyev highlighted Azerbaijan's strategy of increasing gas production while currently reducing oil output.

According to Azeri-Press News Agency, President Aliyev revealed plans to stabilize and potentially increase oil production. He mentioned that if the exploration projects undertaken by international energy companies yield positive results, Azerbaijan could experience a second significant oil boom. President Aliyev described these prospects as very legitimate hopes for the nation's energy sector.