OPEC reveals data on oil reserves, output in Azerbaijan
Baku, Azerbaijan, June 8
By Maksim Tsurkov – Trend:
Proved oil reserves of Azerbaijan amounted to seven billion barrels as of early 2018, according to the Annual Statistical Bulletin of OPEC.
The volume of Azerbaijan's proven oil reserves remained unchanged compared to last year's data.
In 2017, according to OPEC, oil production in Azerbaijan fell by 5.3 percent to 729,200 barrels per day. The number of active drilling rigs in the country was 18 units.
Azerbaijan's oil export in 2017 decreased by 6.1 percent and amounted to 615,300 barrels per day.
The bulk of oil produced in Azerbaijan accounts for the offshore Azeri-Chirag-Guneshli fields. Azeri Light oil is produced at the ACG.
According to the Azerbaijani State Statistics Committee, 38.78 million tons of oil and gas condensate were produced in the country in 2017, which is 5.5 percent less than a year ago.
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