BAKU, Azerbaijan, June 14. The total volume of oil and condensate production in Azerbaijan since the start of development of hydrocarbon fields as of January 1, 2023 stood at 2.2 billion tons, a source familiar with the matter told Trend.
This is while the country has produced 992 billion cubic meters of gas during this period.
The industrial method of oil production was first used in the Balakhani-Sabunchu-Romani oil field in the Absheron peninsula in 1871.
Azerbaijan primarily possesses significant offshore hydrocarbon reserves. The Azeri-Chirag-Gunashli block alone holds oil reserves surpassing one billion tons, with recoverable reserves exceeding 500 million tons. Additionally, the Shah Deniz field is estimated to contain proven reserves of 1.2 trillion cubic meters of gas and 240 million tons of condensate.
Furthermore, Azerbaijan boasts crucial hydrocarbon fields like Umid-Babak, where preliminary data suggests that Babak's prospective structure could hold reserves of up to 400 billion cubic meters of gas and 80 million tons of condensate. Similarly, the Shafag-Asiman block is projected to have forecasted reserves of 500 billion cubic meters of gas and 65 million tons of condensate. Other promising structures include Ashrafi-Dan Ulduzu-Aypara (ADUA) and the Karabagh field.
Presently, ongoing seismic data interpretation is taking place on Block D230. If the results prove positive, further exploration activities will be considered by bp.
Additionally, the Absheron field is expected to yield 1.5 billion cubic meters of gas during its initial stage of production.
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