BAKU, Azerbaijan, September 16. Azerbaijan's commercial gas production surged by 5.3 percent from January through August 2023 when compared to the same period in 2022, Trend reports.
The State Customs Committee reveals that Azerbaijan's total natural gas output in the initial eight months of this year reached 32.2 billion cubic meters, out of which 24.1 billion cubic meters constituted commercial gas. This indicates a 5 percent year-on-year increase in natural gas production.
However, the production of crude oil, including commercial oil, witnessed a decline during this timeframe. In the first eight months of 2023, Azerbaijan produced nearly 20.2 million tons of crude oil, encompassing condensate, with approximately 20.1 million tons being categorized as commercial oil. Consequently, Azerbaijan witnessed a 7.5 percent reduction in crude oil production, including condensate, compared to the previous year, with commercial oil production dropping by 7.6 percent over the same period.
Over 65 percent of oil production in Azerbaijan originates from the Azeri-Chirag-Guneshli block of fields. As of 2022, Azerbaijan's proven oil reserves remained constant at 7 billion barrels, consistent with the figures from 2021.
Azerbaijan holds substantial gas reserves in its offshore areas, with the giant Shah Deniz field estimated to possess 1.2 trillion cubic meters of gas and 240 million tons of condensate. Additionally, among Azerbaijan's hydrocarbon fields is Umid-Babek, with preliminary data suggesting potential reserves of 400 billion cubic meters of gas and 80 million tons of condensate.
Regarding other promising structures, the projected reserves for the Shafag-Asiman block stand at 500 billion cubic meters of gas and 65 million tons of condensate. In the initial phase, plans involve producing 1.5 billion cubic meters of gas from the Absheron field.
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