Azerbaijani gas reserves exceed 2.5 trillion cubic meters, head of the State Oil Company of the Azerbaijani Republic (SOCAR) Rovnag Abdullayev said at the third conference Gas Infrastructure World Caspian in Baku today.
The Umid gas condensate field has recently been opened, as well as Absheron in the Azerbaijani sector of the Caspian Sea. “Nakhchyvan” and “Babek” contain about 400 billion cubic meters and 80 million tons of gas condensate.
Shah Deniz contains about 1.2 trillion cubic meters of gas and over 240 billion tons of condensate. Daily extraction rate of the first stage is 23 million cubic meters of gas and 5,000 tons of condensate. The second stage should increase a total gas output of 16-17 billion cubic meters. First gas of the second stage is expected in 2017.
SOCAR registered an increase of output from 5 to 26 billion cubic meters from 2004 to 2010.
Azerbaijan is negotiating development of the Azeri-Chirag-Guneshli field, which contains about 300 cubic meters. Extraction rate is to reach 30 billion cubic meters by 2017-2018 and 50 billion by 2025.
