BAKU, Azerbaijan, March 14. Azerbaijan's liquids supply for 2023 is forecast to rise by 55,000 b/d to average 0.8 mb/d, Trend reports via monthly oil outlook from OPEC.
The outlook has been slightly downgraded by 5,000 b/d from the previous month's estimations, due to decrease in output from major fields in January 2023.
"The main declines in legacy fields are expected to be offset by ramp-ups in other fields," the report noted.
According to OPEC, the main growth is expected to come from Shah Deniz and Absheron condensate projects.
"Production could rise further after crude output starts up at the Azeri Central East flank project in the fourth quarter of 2023." OPEC noted.
At the same time, Azerbaijan's oil production in January 2023 decreased slightly by 8,000 b/d month-on-month, averaging 0.7 mb/d, which is a drop of 41,000 b/d.
"Crude production averaged 541,000 b/d, with NGLs output at 150,000 b/d, according to official sources. For 2022, liquids supply in Azerbaijan is estimated to have declined year-on-year by 40,000 b/d to average 0.7 mb/d," the report added.