BAKU, Azerbaijan, March 2. Azerbaijan's oil production is projected to reach 0.63 million barrels per day (mb/d) in 2025, the International Energy Agency (IEA) told Trend.
As such, the IEA has maintained its production forecast from the previous assessment.
According to the agency's data, production is expected to start at 0.61 mb/d in the first quarter of 2025, with a slight increase to 0.62 mb/d in the second quarter, 0.64 mb/d in the third and reaching 0.65 mb/d by the fourth quarter.
In 2024, Azerbaijan's oil production averaged 0.6 mb/d, according to the IEA's figures.
Meanwhile, Azerbaijan's Energy Ministry reported that total oil-condensate production in January reached 2.3 million tons, with exports amounting to 2 million tons. Additionally, gas production for the month was 3.9 billion cubic meters (bcm), of which 2 bcm was exported.
Last year, Azerbaijan’s total oil-condensate production was 29.1 million tons.