Italian ENI Announces Its Assessments on Azerbaijan’s Oil Reserves

Oil&Gas Materials 21 June 2007 18:28 (UTC +04:00)

Azerbaijan, Baku /corr. Trend S.Aliyev / The average oil production in Azerbaijan in 2006 equaled 653,000 barrels per day, compared with 454,000 in 2005, as mentioned in the oil and gas review of the Italian ENI Concern.

The confirmed oil reserves of Azerbaijan for 1 January 2007 equaled 7bln barrels. The assessment has not changed since 2003.

The report says that the oil consumption in Azerbaijan in 2006 totaled 101,000 barrels per day, up from 100,000 barrels in 2005.

The oil consumption per capita in the Country in 2006 made up 4.38 barrels compared with 4.36 barrels in 2005.

In 2006, Azerbaijan produced 471,000 barrels of Light Oil, 142,000 barrels of medium-size oil and 34,000 barrels of sour oil per day.