The updated recoverable and forecasted reserves of oil with condensate and gas in Azerbaijan as of January 1, 2023 are estimated at 8.43 billion tons in oil equivalent. According to SOCAR estimates, as of January 1, 2023, the specified recoverable and forecasted reserves of oil with condensate in Azerbaijan amount to 2.54 billion tons, gas - 6.25 trillion cubic meters. "In general, as of January 1, 2023, a total of 2.2 billion tons of oil and 992 billion cubic meters of gas were produced in Azerbaijan," the company notes. According to SOCAR, as of January 1, 2023, 81 fields have been discovered in Azerbaijan, 58 of which are under development, 23 fields have not been developed or have been discontinued. Of the fields under development, 39 are located on land, 19 are located at sea.

Source: Turan News Agency