BP ups estimates of proved gas reserves in Azerbaijan

Oil&Gas Materials 11 June 2009 12:00 (UTC +04:00)

Azerbaijan, Baku, June 11 / Trend /

BP increased estimates of the proved gas reserves in Azerbaijan by 40 billion cubic meters, to 1.2 trillion cubic meters.  

As for Jan.1, 2009, the volume of the proved gas reserves in Azerbaijan amount to 0.6 percent of the world's gas reserves, BP's statistical review on world energy reported.

BP reported gas production was 14.7 billion cubic meters which by 50 percent more compared to 2007. 

Gas consumption in the country increased by 16 percent and amounted to 9.3 billion cubic in 2008, the company said. 

BP is a giant foreign operator developing offshore oil and gas fields in Azerbaijan. The company operates the giant project on development of the Shah Deniz gas condensate field. Gas from this field is exported via the South Caucasus pipeline to Georgia and Turkey. Gas is also sold on the Azerbaijani domestic market.