BAKU, Azerbaijan, October 31. Oil reserves of Azerbaijan as of 2023 stood at 6.950 billion barrels, remaining unchanged from since 2010, Trend reports via the latest outlook published by Italian Eni company.
This is while crude and non-conventional oil, natural gas liquids production in the country has dropped from 1.042 million barrels per day in 2010 to 620,000 barrels per day in 2023. As such, the volume of production has dropped by 40.5 percent.
The table below shows the volume of production in Azerbaijan:
|
Year |
Volume of production (thousand barrels/day) |
|
2010 |
1,042 |
|
2015 |
849 |
|
2018 |
793 |
|
2019 |
765 |
|
2020 |
699 |
|
2021 |
703 |
|
2022 |
671 |
|
2023 |
620 |
Oil consumption in Azerbaijan has increased from 74,000 barrels per day in 2010 to 112,000 barrels per day in 2023, showing a growth of 51.4 percent.
The table below shows the yearly volume of oil consumption in the country:
|
Year |
Volume of consumption (thousand barrels/day) |
|
2010 |
74 |
|
2015 |
96 |
|
2018 |
104 |
|
2019 |
112 |
|
2020 |
101 |
|
2021 |
106 |
|
2022 |
110 |
|
2023 |
112 |
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