EIA expects Azerbaijan’s oil production at 1.07 mln bpd in 2013
Azerbaijan, Baku, Feb. 8 /Trend, A.Badalova/
Oil production in Azerbaijan will remain stable at 1.07 million barrels per day in 2013, as it was in 2012, a monthly report of the U.S. Energy Information Administration (EIA) says.
Last month EIA predicted Azerbaijan's oil production at 1.06 million barrels per day.
In the first quarter of the next year oil production will amount to 1.1 million barrels, in the second - 1.08 million barrels per day, in the third - 1.06 million and in the fourth - 1.04 million barrels per day.
According to EIA's forecasts, the country's production level will increase by 80,000 barrels per day to 1.07 million barrels per day in 2012 compared to 0.99 million barrels per day in 2011.
The highest level of Azerbaijan's oil production in 2012 will be observed in the third quarter - at 1.14 mln bpd, the EIA forecasts. In the first quarter, Azerbaijan will produce 1.03 mln bpd, in the second - 1.01 mln bpd, while in the fourth quarter - 1.12 mln bpd.
According to the BP, Azerbaijan's proven oil reserves amounted to 7 billion barrels in early 2011. Oil production in the country amounted to 1.037 million bpd in 2010, or 0.5 percent more than the figure in 2009.
The main volume of Azerbaijan's oil production accounts for the Azeri-Chirag-Guneshli fields. Azeri Light oil with a sulfur content of 0.15 percent (35 degrees API) is produced here.
ACG participating interests are: BP (operator - 35.83 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), ITOCHU (4.3 percent), Hess (2.7 percent), AzACG (11.6 percent).