BAKU, Azerbaijan, Nov.13
By Leman Zeynalova – Trend:
Crude oil production (including gas condensate) in Azerbaijan has changed from 50.838 million tons in 2010 to 37.501 million tons in 2019, Trend reports.
The dynamics of production in the country over the last decade is as follows:
The output dropped from 50.838 million tons in 2010 to 45.626 million tons in 2011, of which 45.375 million tons accounted for commercial oil.
Azerbaijan’s output continued to decline in 2012 to 43.375 million tons with 42.982 million tons being commercial oil, as compared to 43.457 million tons in 2013.
The volume of crude oil production in Azerbaijan stood at 42.076 million tons, including 41.952 million tons of commercial oil in 2014, dropping slightly to 41.628 million tons in 2015.
The production further went down to 41.050 million tons in 2016, 38.688 million tons in 2017, 38.814 million tons in 2018 and 37.501 million tons in 2019.
The International Energy Agency (IEA) expects Azerbaijan’s oil production (crude oil, condensates, NGLs and oil from non-conventional sources) to stand at 0.70 million barrels per day as of 2020.
IEA expects this figure to rise to 0.72 million barrels per day in 2021.
OPEC forecasts liquids production in Azerbaijan for 2020 to decline by 0.06 mb/d to average 0.73 mb/d. For 2021, a minor decline of 0.01 mb/d is forecast by the cartel.
---
Follow the author on Twitter: @Lyaman_Zeyn
