Oil production in Azerbaijan to hit 55mln tons in 2013

Azerbaijan, Baku, Nov. 10 / Trend , E.Ismayilov/

Under the forecasts, Azerbaijan will produce roughly 53.3 million tons of oil in 2010 compared to roughly 49.4 million tons in 2009, Azerbaijan's draft public budget for 2010 said.

In 2011, oil production in the country will stood at roughly 55.2 million tons and over 52.8 million tons in 2012 and roughly 55.8 million tons in 2013.

In 2010, over 44.8 million tons of oil of the country's total production will account for the Azerbaijan International Operating Company (AIOC) compared to roughly 41 million tons in 2009. The rest 8.45 million tons will fall to the State Oil Company of Azerbaijan Republic (SOCAR) compared to 8.55 million tons in 2009.

AIOC is developing a block of Azeri-Chirag-Guneshli fields (ACG).

The sides to the production sharing agreement on the Azeri-Chirag-Gunashli fields are BP (operator- 34.14 percent), ChevronTexaco (10.2 percent), SOCAR (10 percent), INPEX (10 percent), Statoil Hydro (8.56 percent), ExxonMobil (8.01 percent), TPAO (6.75 percent), Devon (5.63 percent), Itochu (3.92 percent) and Delta Hess (2.72 percent).

A contract on joint development and production sharing of the ACF field was signed in September 1994. The contract covers 30 years. Production in Chirag began in 1997, in Central Azeri - early 2005, West Azeri - early 2006, East Azeri - late 2006. Production began in a shallow part of the Guneshli field in late April 2008.

SOCAR is developing other onshore and offshore fields in Azerbaijan by own means.

Summary table for oil production in Azerbaijan by 2013:

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