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Azerbaijan's proved hydrocarbon reserves hit 4.2bln tons of equivalent fuel

September 20/2011

(Trend) -- Azerbaijans proved hydrocarbon reserves made up 4.2 billion tons of equivalent fuel, State Oil Company of the Azerbaijan Republic (SOCAR) head Rovnag Abdullayev said in his interview with the New Azerbaijan Partys official website.

He said the projected level of reserves is 10 billion tons of equivalent fuel . Azerbaijan has more than 40 off-shore and on-shore structures for drilling.

Reserves of the prospective structures such as Babak are estimated at 400 billion cubic meters of gas and 80 million tons of condensate, Nakhchivan - 300 billion cubic meters of gas and 40 million tons of condensate and deep gas reserves of the Azeri-Chirag-Guneshli at 300 billion cubic meters.

Oil production will be brought to 50-55 million tons and gas up to 30 billion cubic meters in 2015, Abdullayev said. Today, the proved gas reserves exceed 2.5 trillion cubic meters in Azerbaijan.

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