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BAKU, Azerbaijan, June 4 (UPI) -- International ministers kicked off a two-day oil and gas conference in Azerbaijan Wednesday on the exploration of reserves from Caspian Sea nations.
The 15th International Caspian Oil and Gas Conference started Wednesday in the Azerbaijani capital, Baku. Topics include discoveries, exploration and the shipment of oil and natural gas from the region, the Iranian English-language news service Press TV reported.
Azerbaijani Energy Minister Natig Aliyev inaugurated the meeting, lauding the vast reserves in the region.
"(The) Caspian basin has great oil and gas resources which can be compared with those of the North Sea," he said.
U.S. and British energy agencies confirmed reserves in the region approach at least 7 billion barrels of oil and at least 232 trillion cubic feet of extractable gas, the Trend Capital News Agency said.
"Given this volume of resources, the Caspian basin is attracting more and more interest of many countries, especially Europe," Aliyev said.
Speakers on the first day of the conference included representatives from Azerbaijan, England and the United States.
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