BAKU, Azerbaijan, January 17. The total value of Azerbaijan's mining sector production in 2024 amounted to 41.2 billion manat ($24.2 billion), marking an increase of 1.0 percent compared to 2023.
The data obtained by Trend from the country's State Statistics Committee indicates that of the total production value, 38 billion manat ($22.3 billion) were generated from the extraction of crude oil and natural gas, reflecting a year-on-year increase of 1.2 percent.
Moreover, the country's production of commercial oil, the main product in the sector, reached 29 million tons, while the extraction of commercial natural gas totaled 38.7 billion cubic meters.
Meanwhile, Azerbaijan's oil output saw a decrease of 3.6 percent compared to 2023, while natural gas production grew by 6.2 percent.
In total, Azerbaijan produced 29 million tons of oil (a decline of 3.6 percent) and 50.5 billion cubic meters of gas (an increase of 4.3 percent) during the reporting period.