Publications

Survey of Energy Resources 2007

Crude Oil and Natural Gas Liquids Country Notes

Azerbaijan

Proved recoverable reserves (crude oil and NGLs, million tonnes)	950
Production (crude oil and NGLs, million tonnes, 2005)	22.4
R/P ratio (years)	42.4
Year of first commercial production	1873

This is one of the world's oldest oil-producing areas, large-scale commercial production having started in the 1870s. During World War II the republic was the USSR's major source of crude, but then decreased in importance as the emphasis moved to Siberia. Azerbaijan's proved recoverable reserves (as reported by Oil & Gas Journal, OAPEC and BP) stand at 7 billion barrels, unchanged from the level quoted in the 2004 Survey.

The development of Azerbaijan's offshore oil resources in the Caspian Sea, currently under way, is re-establishing the republic as a major oil producer and exporter. With new Caspian fields coming into production, oil output has risen year by year since 1998. The bulk of Azerbaijan's production is obtained offshore.