SOCAR vice-president: Azerbaijan's gas reserves may reach 5 trillion cubic meters

19 million falls to SOCAR, 23 million to the Shah Deniz Field and 34 million cubic meters (associated gas) fall to the Azeri-Chirag-Guneshli Field, SOCAR First Vice President Khoshbakht Yusifzade said at the Seventeenth International Caspian Oil and Gas Conference today.

"We have a lot of gas. Daily output is sufficient to ensure our own needs," Yusifzade said.

He added that the prospects of gas deposits are better than oil in Azerbaijan. "SOCAR is drilling on the Umid Field where reserves are estimated at 200 billion cubic meters. The Bulla Deniz Field also has huge reserves," Yusifzade added.

He said reserves of the perspective Absheron Field may exceed 300 billion cubic meters. The French Total is the field's operator. According to him, based on studies of the Nakhchivan, Shafag, and Asiman structures, common gas reserves may reach 5 trillion cubic meters in Azerbaijan.