BAKU, Azerbaijan, Nov.30
By Leman Zeynalova – Trend:
Azerbaijan’s oil reserves were estimated at 1.178 billion barrels in 2000, further rising to 7 billion barrels and remaining stable up to 2019, Trend reports with reference to Eni’s World Oil Review.
World oil reserves have changed from 1.233 trillion barrels in 2000 to 1.712 trillion barrels in 2019, according to Eni.
In 2005, this figure stood at 1.321 trillion barrels, rising further to 1.620 trillion barrels in 2010. The reserve estimates continued rising to 1.655 trillion barrels in 2015, 1.656 trillion barrels in 2016, 1.659 trillion barrels in 2017, 1.662 trillion barrels in 2018 and 1.712 trillion barrels in 2019.
Azerbaijan’s oil reserves in A, B, and C1 categories (layers under development) stand at 87.9 million tons as of January 1, 2019, a source familiar with the matter earlier told Trend.
This is while the country’s oil reserves in A, B, C1 and C2 (layers under development and productive layers of the fields under development) equal to 1.123 billion tons, of which 21 percent accounts for Azneft Production Union.
OPEC said in its 2020 Annual Statistical Bulletin that Azerbaijan’s proven oil reserves stood at 7 billion barrels for 2019.
BP estimates Azerbaijan’s total proven oil reserves 7 billion barrels, 0.4 percent of world’s total proved oil reserves.
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