BAKU, Azerbaijan, July 31. Azerbaijan produced around 128,000 barrels of petroleum products per day (b/d) in 2022, as compared to nearly 135,000 b/d in 2021, Trend reports.
OPEC estimates that the country’s output of petroleum products has decreased by 5.5 percent year-on-year.
The cartel’s report reveals that Azerbaijan produced 120,000 b/d, 123,000 b/d and 114,000 b/d in 2018, 2019 and 2020, respectively.
As such, the daily petroleum products’ output in the country has increased by 6.7 percent as compared to 2018.
Azerbaijan exported 12.8 million tons of crude oil and petroleum products worth $7.8 billion from January through June 2023.
According to the State Customs Committee of Azerbaijan, the top 3 importers of Azerbaijani oil are headed by Italy (4.9 million tons worth $3 billion), followed by Spain (1 million tons worth $644.6 million) and Israel (1 million tons worth $631.3 million) from January through June 2023.
More than 65 percent of oil production in Azerbaijan account for the Azeri-Chirag-Gunashli block of fields.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement. ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
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