BP estimates oil&gas reserves in Azerbaijan

Oil&Gas Materials 29 June 2006 12:41 (UTC +04:00)

In its annual global oil&gas review, BP announced that Azerbaijans oil reserves did not change since 2004 and totaled 7bn bbl. (1bn ton) by the end of 2005, Trend reports.

According to the company, in 2005 oil production in Azerbaijan rose by 135k bbl a day (42.8%) over year to 452k bbl. Oil consumption in Azerbaijan, according to BP, rose in 2005 by 11.3% over year and totaled 103k bbl a day.

BP states in its report that proved gas reserves in Azerbaijan totaled 1.37trn m3 by the end of 2005, equal to those as of the end of 2004. Gas production in Azerbaijan totaled 5.3bn m3 by the end of 2005, up 13.9% over year.

Gas consumption in Azerbaijan, BP states, totaled 8.8bn m3 at the end of 2005, up 3% over year.

ENI of Italy announced in its annual oil&gas review that Azerbaijans oil reserves totaled 7bn bbl as of January 1, 2006, Trend reports. 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.