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Forecasted hydrocarbons reserves in Azerbaijan 2.4 times exceeds proven reserves

Oil&Gas Materials 7 October 2011 18:25
Proven hydrocarbon reserves in Azerbaijan are estimated at 4.2 billion tons of conditional fuel, but the forecasts indicate the presence of reserves at 10 billion tons, head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev said during VI Eurasian forum KAZENERGY conducted in Astana last week.
Forecasted hydrocarbons reserves in Azerbaijan 2.4 times exceeds proven reserves

Azerbaijan, Baku, Oct. 7 /Trend, E.Ismayilov/

Proven hydrocarbon reserves in Azerbaijan are estimated at 4.2 billion tons of conditional fuel, but the forecasts indicate the presence of reserves at 10 billion tons, head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev said during VI Eurasian forum KAZENERGY conducted in Astana last week.

"Of these, the reserves on the Azeri-Chirag-Guneshli oil and gas block total more than one billion tons and gas reserves only on Shah Deniz - 1.2 trillion cubic meters," said Abdullayev.

According to Abdullayev, the potential reserves on the Absheron field total 350 billion cubic meters of gas and 45 million tons of condensate. The reserves on Babak perspective structure are estimated at 400 billion cubic meters of gas and 80 million tons of condensate, and Nakhchivan - 300 billion cubic meters of gas and 40 million tons of condensate.

The gas reserves in deep water ACG are estimated at 300 billion cubic meters. Approximately 200 billion cubic meters of gas and about 40 million tons of oil reserves are estimated on Umid field.

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