SOCAR's first VP: “Azerbaijan's proven oil reserves 4 bln tonnes”

# 18 September 2019 14:18 (UTC +04:00)

“492 million tones of oil produced from “Azeri-Chirag-Gunashli” (ACG) oil and gas fields located at the Azerbaijanis sector of the Caspian Sea”, said Khoshbakht Yusifzade, first vice-president of SOCAR at a round table titled "The Contract of the Century: A Great Basis for the progress of Azerbaijan".

According to him, Azerbaijan has huge gas reserves and it creates great opportunities: “Approved gas reserves of the country amounted to 2,6 billion cubic meter. He also stated that construction of Trans-Adriatic pipeline continues within the establishment of Southern Gas Corridor and the pipeline will be commissioned the next year. Kh.Yusifzade noted that Azerbaijan has huge oil reserves: “Works on the discovery of new oil fields and drilling of oil wells continues today. Today Azerbaijan has 4 billion tones of approved oil reserves”.

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