BAKU, Azerbaijan, April 11. Azerbaijan's liquid supply in 2024 is poised for a slight increase of about 14,000 b/d to an average of 0.7 mb/d, Trend reports.
Thus, OPEC has slightly revised its forecast for the country's output growth from 15,000 b/d expected earlier.
This growth is expected to be driven in part by projects like Shah Deniz, Absheron, and Umid-Babek gas condensate projects, the bloc noted in its outlook.
Additionally, production in Azerbaijan's ACG oil fields is anticipated to receive a boost this year with the introduction of a seventh ACG platform.
Meanwhile, in February, Azerbaijan's liquid production stayed relatively steady compared to the previous month, averaging 0.6 mb/d, marking a decrease of 62,000 b/d compared to the previous year.
Looking ahead to 2025, Azerbaijan is expected to maintain an average liquids supply of 0.7 mb/d.
According to the operational data provided by the Ministry of Energy, Azerbaijan produced 7.3 million tons of oil, including condensate, from January through March 2024, which is 5.2 percent less than in the same period of 2023 (7.7 million tons).