ENI announced estimated hydrocarbon reserves of Azerbaijan

Oil&Gas Materials 28 June 2006 14:43 (UTC +04:00)

ENI of Italy announced in its annual oi&gas review that Azerbaijans oil reserves did not change since 2003 and totaled 7bn bbl as of January 1, 2006, Trend reports. Thus, ENIs estimation of oil reserves rose in 5.83 times compared to those of 1994.

According to the companys information, oil consumption in Azerbaijan rose in 2005 and totaled 96k bbl a day, 1k bbl a day over year. In 1994, Azerbaijan consumed 144k bbl a day.

In its report, ENI states gas reserves in Azerbaijan totaling 1.37trn m3 as of January 1, 2006. This figure did not change since 2000 (inclusive). During 1994-1999 (inclusive) the gas reserves in the country were estimated in 900bn m3.