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BP increases Azerbaijan’s rating for confirmed gas reserves by 33%

17 June 2020 15:08 (UTC +04:00)

The United Kingdom’s BP Company has increased the rating for the confirmed gas reserves in Azerbaijan, "APA-Economics" reports citing the annual overview issued by BP.

As of the end of 2019, Azerbaijan’s confirmed gas reserves made up 2.8 bln. cubic meters which is 33.3% more compared to the end of 2018.

Note that according to BP’s rating, as of the end of 2018, the confirmed gas reserves of Azerbaijan made up 2.1 bln. cubic meters.

According to the report, as of the end of 2019, the worldwide confirmed gas reserves made up 198.8 bln. cubic meters (Azerbaijan’s share – 1.4%) which means 0.86% growth.

Remind that BP Company is an active participant of a number of oil and gas projects in Azerbaijan. Thus, the company takes part in the projects of development of the block of oil and gas fields Azeri-Chirag-Guneshli and Shah Deniz gas and condensate field situated in the Azerbaijani sector of the Caspian Sea.