The projected gas reserves of Azerbaijan are estimated at 3.45 trillion cubic meters, and oil at 2 billion metric tons.
The first vice-president of SOCAR (State Oil Company of Azerbaijan) Khoshbakht Yusifzade made the remarks Oct.27 in Baku during the XIII Conference on investments and energy regulations of the Energy Regulators Regional Association.
He said that Azerbaijan’s proven gas reserves amount to 2.55 trillion cubic meters, and the proven oil reserves of the country stand at the level of 2 billion metric tons.
In total, oil and gas reserves of the country are estimated at 10 billion metric tons in oil equivalent, Yusifzade said.
Reports will be heard at the two-day conference and discussions held on such topics as the power industry of Azerbaijan, security of energy supply, the problems in the use of renewable energy and empowerment of consumers on the energy market.
The Conference on investments and energy regulation of ERRA annually attracts about 300 representatives of more than 100 regulators, experts, investors, scientists, consumer representatives, organizations for environmental protection, agencies on development and other professionals from the countries of Central and Eastern Europe, North America to participate in its work.
