by schlarry » Wed Sep 20, 2023 6:42 am
Dylan Quint wrote: ↑Fri Apr 28, 2023 2:22 pm
Azerbaijan looks and sounds like an absolute cunt of a place. Why the F1 have a slot there is anyone's guess.
They have oil. And natural gas, lots of it.
https://www.iea.org/reports/azerbaijan- ... y-security
Azerbaijan is rich in oil and natural gas resources. According to the June 2021 BP Statistical Review of World Energy, at the end of 2020 its oil reserves of 7 billion barrels (1 Mt) accounted for 0.4% of global reserves. Oil is produced both onshore and offshore in the Caspian Sea, with offshore production accounting for about one-quarter of the total.
The Azeri-Chirag-Deepwater Gunashli (ACG) field, located about 100 km east of Baku, is the largest oilfield in the Azerbaijan sector of the Caspian Basin. Discovered in the early 1970s when Azerbaijan was part of the Soviet Union, it comprises a series of individual reservoir horizons located 2 000 to 3 500 metres beneath the Caspian seabed. The Government of Azerbaijan and a consortium of 11 foreign oil companies signed a PSA in Baku in September 1994.
Azerbaijan has an estimated 2.5 trillion cubic metres of proven natural gas reserves, according to the BP Statistical Review of World Energy 2021. While Azerbaijan is not as prominent in global gas as it is in oil, gas extraction is expected to continue contributing significantly to the economy in upcoming decades.
[quote="Dylan Quint" post_id=1058203 time=1682666525]
Azerbaijan looks and sounds like an absolute cunt of a place. Why the F1 have a slot there is anyone's guess.
[/quote]
They have oil. And natural gas, lots of it.
https://www.iea.org/reports/azerbaijan-energy-profile/energy-security
Azerbaijan is rich in oil and natural gas resources. According to the June 2021 BP Statistical Review of World Energy, at the end of 2020 its oil reserves of 7 billion barrels (1 Mt) accounted for 0.4% of global reserves. Oil is produced both onshore and offshore in the Caspian Sea, with offshore production accounting for about one-quarter of the total.
The Azeri-Chirag-Deepwater Gunashli (ACG) field, located about 100 km east of Baku, is the largest oilfield in the Azerbaijan sector of the Caspian Basin. Discovered in the early 1970s when Azerbaijan was part of the Soviet Union, it comprises a series of individual reservoir horizons located 2 000 to 3 500 metres beneath the Caspian seabed. The Government of Azerbaijan and a consortium of 11 foreign oil companies signed a PSA in Baku in September 1994.
Azerbaijan has an estimated 2.5 trillion cubic metres of proven natural gas reserves, according to the BP Statistical Review of World Energy 2021. While Azerbaijan is not as prominent in global gas as it is in oil, gas extraction is expected to continue contributing significantly to the economy in upcoming decades.