Azernews.Az

Azerbaijan’s proven oil reserves amount to 14 billion barrels, while projected reserves – 20-24 billion barrels, a senior official said Friday.

Presidential Administration official Ali Hasanov said further that the country’s proven gas reserves are 2.55 trillion cubic meters, while projected reserves are four times more.

"Azerbaijan can produce gas for at least 100 years at the current pace," Hasanov told an international event devoted to the 20th anniversary of Azerbaijan’s independence.

Hasanov noted that Azerbaijan has the biggest reserves of gold, copper and other natural resources in the South Caucasus region.

"It is also the only regional country that has ensured its energy security," he said.

The Presidential Administration official added that Azerbaijan is the only former Soviet republic which has provided 90 percent of its territory with gas.