U.S. company forecasts oil production increase in Azerbaijan

Oil&Gas Materials 16 December 2008 20:18 (UTC +04:00)

Azerbaijan, Baku, Dec. 16 / Trend , A. Badalova/ U.S. analytic company Energy Security Analysis (ESAI) forecasts oil production increase by 200,000 bbl per day in Azerbaijan in 2009.

Presently, about 650,000 bbl of oil per day is extracted from the Azerbaijani Azeri-Chirag-Gunashli block of fields.

Oil production in non-OPEC countries can increase by 500,000 bbl per day owing to some huge oil producing countries, according to ESAI report.

Oil supplies from non-OPEC countries will make up 51.1mln bbl per day in 2009, compared with 49.3mln bbl in 2008. In 2009, former Soviet countries will produce 12.8mln bbl per day, members of the Organization of Economic Cooperation and Development (OECD) will produce 17.4mln bbl per day.

World oil demand will make up 85.7mln bbl per day in 2009, compared with 85.6mln bbl per day in 2008, according to ESAI forecast. In 2009, the biggest demand will occur in the fourth quarter - 86.9mln bbl per day.

Non-OECD countries will provide 47.2mln bbl of the total global oil demand in 2009. Oil demand in non-OECD countries will make up 38.5mln bbl per day in subsequent year.

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