BAKU, Azerbaijan, February 10. The confirmed oil reserves of Azerbaijan are estimated to be around 7 billion barrels as of January 1, 2025.
The data obtained by Trend from the US Energy Information Administration shows that Azerbaijan's crude oil production (excluding condensates) in 2009-2010 was around 1 million barrels per day.
"The total oil production is forecasted to average slightly more than 600,000 barrels per day from 2024 through 2026.
The Azeri-Chirag-Gunashli (ACG) field remains the primary source of oil production in Azerbaijan. Oil output from this field peaked in 2010, reaching approximately 823,100 barrels per day. In the first half of 2023, 375,000 barrels of Azeri Light crude oil were produced from this field. This crude oil, along with condensate extracted from the Shah Deniz gas field, represents the main oil liquids produced and exported by Azerbaijan," the report said.
Additionally, the report noted that Kazakhstan's confirmed oil reserves are projected to be 30 billion barrels by January 1st, 2025, while Turkmenistan's reserves are estimated at 600 million barrels and Uzbekistan's at 594 million barrels.