Azerbaijan announces volume of oil and gas reserves

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4 January 2018

As of today, proven and extractable oil-condensate reserve makes up 1.5 billion tonnes, gas reserves – 2,550,000,000,000 cubic meters, First Vice President of the State Oil Company of Azerbaijan (SOCAR) Khoshbakht Yusifzade said in his article published in ‘Respublika’ newspaper.

 

According to him, predicted oil reserves are 2 billion tonnes, gas reserves – 3,450,000,000,000 cubic meters: ‘In other words, proven and extractable hydrocarbon reserves are equivalent to 4,050,000,000 tonnes of oil, forecasted hydrocarbon reserves – to 5,450,000,000 tonnes of oil’. 

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