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US Publicizes Estimated Volume of Recoverable Oil Reserves in Azerbaijan

Oil&Gas Materials 25 May 2007 18:07 (UTC +04:00)

Azerbaijan, Baku / corr Trend S.Aliyev, V.Sharifov / The estimated volume of oil reserves in Azerbaijan constituted 7bln barrels of oil in the first quarter of 2007, or the same fixed in 2003, according to the US Energy Information Administration, an independent agency of the US Energy Ministry.

From 1997 to 2002 (inclusively) the estimated reserves of Azerbaijan were estimated to be 1.178bln barrels for each year's first quarter.

The Administration announced that the estimated oil reserves of Georgia has remained unchanged as compared to 1997 and constituted 35mln barrels in the first quarter of 2007.

The estimated oil reserves in Kazakhstan made up 30bln barrels in the first quarter of 2007 as compared to 9bln in 2006. In 2002 the oil reserves of Kazakhstan were estimated to be 5.417bln barrels in the first quarter.

This year, oil reserves in Turkmenistan comprised 600mln barrels in the first quarter as compared to 546mln barrels in 2006.

The estimated volume of oil reserves in Iran constituted 136.27bln barrels as compared to 132.46bln in 2006 during the first quarter.

The Energy Information Administration notes the bigger oil reserves are located in Saudi Arabia, which comprised 262.3bln barrels in the first quarter this year as compared to 266.8bln barrels in 2006.

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