BP increases estimate of confirmed gas reserves in Azerbaijan by 33%

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British company BP increased assessment of confirmed gas reserves in Azerbaijan.

According to APA- Economy with reference to the annual review of BP, as of the end of 2019, the confirmed gas reserves in Azerbaijan amounted to 2.8 trillion. cubic meters, which is 33.3% more compared to the end of 2018.

Note that as of the end of 2018, gas reserves of Azerbaijan were estimated at 2.1 trillion. cubic meters.

BP notes that at the end of 2019, confirmed global gas reserves in the world amounted to 198.8 trillion. cubic meters (Azerbaijan’s share is 1.4%), annual growth amounted to 0.86%.

Recall, BP is actively involved in a number of oil and gas projects in Azerbaijan. The company takes part in projects to develop the block of Azeri-Chirag-Guneshli oil and gas fields and the Shahdeniz gas condensate field located in the Azerbaijani sector of the Caspian.