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SOCAR reveals data on its proven gas reserves
- 22 October, 2024
- 10:57
As of January 1, 2024, the confirmed gas reserves of the State Oil Company of Azerbaijan (SOCAR) are estimated at 112.79 billion cubic meters, Report informs, citing SOCAR's Sustainable Development Report for 2023.
"As of January 1, 2024, the company's proven gas reserves are estimated at 112.79 billion cubic meters, compared to 113.73 billion cubic meters as of January 1, 2023. Thus, as of January 1, 2024, SOCAR's proven gas reserves have decreased by 0.8%," the report noted.
In the total volume of confirmed gas reserves, the amount of proven and undeveloped reserves is 52.8 billion cubic meters (+2%), while the volume of proven and developed reserves is 59.98 billion cubic meters (-3.2%).
The data on SOCAR's proven oil and gas reserves for 2022-2023 are provided based on the research and evaluation report conducted by DeGolyer & MacNaughton.
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