12:47 - 16.02.2021

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February 16, Fineko/abc.az. Given the level of oil production at the beginning of last year, Azerbaijan's oil reserves will be sufficient by another 25 years.

ABC.AZ reports that this was announced as a result of joint calculations by Fitch Ratings and BP.

The international agency reports that Azerbaijan ranked the 11th place in the world on this indicator. Top 3 on this indicator includes Kuwait, Iraq and Canada.

According to Fitch, the country's oil and gas reserves in 2019 amounted to 0.8% of global reserves.

Azerbaijan produced 37.5 million tons of oil in 2019 and 34.6 million tons in 2020.