As of January 1, 2025, Azerbaijan’s proved oil reserves are estimated at 7 billion barrels, with natural gas reserves totaling 60 trillion cubic feet (Tcf), according to the US Department of Energy.
According to the institution, crude oil production (excluding condensate) in Azerbaijan has been declining since peaking at almost 1.0 million barrels per day (b/d) in 2009–2010, News.Az reports, citing local media.
“We project total petroleum liquids production to average a little over 600,000 b/d from 2024 to 2026,” it noted.
The US Department also stated that the deepwater field Azeri Chirag Gunashli (ACG) is the primary source of petroleum liquids production in Azerbaijan, but it peaked in 2010 at 823,100 b/d before falling to 664,400 b/d in 2012.
“This crude oil and the condensate from the Shah Deniz natural gas field are the primary petroleum liquids produced and exported by Azerbaijan.”
As of January 1, 2025, Kazakhstan’s proved oil reserves totaled 30 billion barrels, Turkmenistan’s proved oil reserves totaled 600 million barrels, and Uzbekistan’s proved oil reserves totaled 594 million barrels.
As of January 1, 2025, Kazakhstan's proved oil reserves totaled 30 billion barrels, while Turkmenistan's were 600 million barrels and Uzbekistan's stood at 594 million barrels.
In 2023, the three Caspian countries and Uzbekistan accounted for 3% of global energy production and 1% of global energy consumption.
