BAKU, Azerbaijan, Aug.23
By Leman Zeynalova – Trend:
Total proven gas reserves of Azerbaijan’s state oil company SOCAR stood at 101.449 billion tons in 2020, as compared to 99.486 billion tons in 2019, Trend reports with reference to the company.
The country’s proven, developed and produced gas reserves dropped from 51.275 billion tons in 2019 to 46.892 billion tons, while proven, developed and not produced reserves fell from 4.052 billion tons to 3.509 billion tons.
Proven and developed reserves stood at 50.401 billion tons in 2020 versus 55.327 billion tons in 2019. Proven and undeveloped reserves equaled to 51.049 billion tons in 2020 as compared to 44.159 billion tons in 2019.
SOCAR’s proven gas reserve estimates are based on the 2020 data of DeGolyer & MacNaugthon company.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan.
SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.
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