The total volume of oil produced so far from offshore fields in Azerbaijan amounted to 1 billion 42 million tons, SOCAR Vice President for development of fields Yashar Latifov said.
“So far, from the offshore fields of Azerbaijan, 1 billion 42 million tons of oil and 668 bcm of gas have been extracted, and 977 million tons of oil and 139 bcm of gas have been produced from the country’s land deposits,” Y. Latifov said, speaking at the conference Caspian Oil & Gas 2018.
Thus, the volume of oil produced so far in Azerbaijan is 2.019 billion tons, and the volume of produced gas is 807 bcm.
According to the official statistical data of Azerbaijan, during the years of independence (1992-2017), 259.737 bcm of commercial gas was produced in Azerbaijan.
Caspian Barrel reminds that the statistical calculation of oil in Azerbaijan has been conducted since 1871, and that of gas has been conducted since 1928. The peak period of oil production was recorded in 2010 – 50.8 million tons. So far, the highest volumes of commercial gas production have been seen in 2015 – 19.236 bcm. Already in 2022, it is expected that gas production will increase to 36 bcm, and by 2026 it will reach 40 bcm.