BAKU, Azerbaijan, March 12. Azerbaijan has witnessed a significant surge in natural gas production during the first two months of this year, marking a notable increase of 240 million cubic meters compared to the corresponding period in 2023, the country’s energy minister Parviz Shahbazov wrote on X, Trend reports.
"Gas production has surged by 240 million cubic meters, reaching a total of 8.2 billion cubic meters, with 4.1 billion cubic meters earmarked for export," Shahbazov stated.
Furthermore, the minister highlighted that based on operational data, oil and condensate production from January to February this year totaled 4.8 million tons, with export figures standing at 3.9 million tons.
Azerbaijan boasts substantial gas reserves, particularly in its offshore areas. The renowned Shah Deniz field alone is estimated to hold proven reserves of 1.2 trillion cubic meters of gas and 240 million tons of condensate.
Additionally, within Azerbaijan's hydrocarbon deposits lies the Umid-Babek field. Initial assessments suggest that the Babek structure could harbor reserves totaling 400 billion cubic meters of gas and 80 million tons of condensate.
Furthermore, other promising prospects include the Shafag-Asiman block, with forecasted reserves of 500 billion cubic meters of gas and 65 million tons of condensate. Additionally, the initial phase aims to produce 1.5 billion cubic meters of gas from the Absheron field.
Follow the author on X: @Lyaman_Zeyn