The first vice president of the State Oil Company (SOCAR) Khoshbakht Yusifzade said Azerbaijan’s proven and extractable hydrocarbon reserves are estimated to be 9,5 billion tons of standard fuel.
According to him, as of today, proven and extractable oil-condensate reserves amount to 1,5 billion tons, gas reserves 2,55 trillion cubic meters. He also mentioned that the country’s predicted oil reserves are 2 billion tons and gas reserves 3.45 trillion cubic meters.
“In other words, proven and extractable hydrocarbon reserves are equivalent to 4.05 billion tons of oil and estimated hydrocarbon reserves to 5.45 billion tons of oil’,” he added.
