BAKU, Azerbaijan, July 16
By Leman Zeynalova - Trend:
Azerbaijan’s gas reserves in A, B, and C1 categories (layers under development) stand at 971 billion cubic meters as of January 1, 2019, Trend reports citing a source familiar with the matter.
Around 18.6 percent of this volume accounts for Azneft Production Union of Azerbaijan’s state oil company SOCAR.
This is while the country’s gas reserves in A, B, C1 and C2 (layers under development and productive layers of the fields under development) equal to 1.656 trillion cubic meters, of which 23.5 percent accounts for Azneft Production Union.
OPEC’s 2020 Annual Statistical Bulletin says that Azerbaijan’s proven natural gas reserves stood at 1.718 trillion standard cubic meters in 2019, as compared to 1.435 trillion standard cubic meters estimated in 2018. Thereby, the cartel has revised up the country’s proven gas reserves by 19.7 percent year-on-year.
Azerbaijan’s marketed production of natural gas was estimated by OPEC at 20.811 billion standard cubic meters in 2019, versus 17.800 billion standard cubic meters in 2018, or 16.9 percent increase year-on-year.
Natural gas exports by Azerbaijan equaled to 11.486 billion standard cubic meters in 2019, as compared to 9.190 billion standard cubic meters in 2018, which shows a 25 percent increase.
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