Azerbaijan, Baku, July 16 / Trend A.Badalova /
Azerbaijan's oil production will amount to 0.96 million barrels per day (bpd) in 2013 compared to 0.97 million bpd in 2012, OPEC's July oil market report says.
According to OPEC forecasts, the highest level of the country's oil production next year will be observed in the first quarter - at 0.98 million bpd.
In the second and third quarters of the year production will amount to 0.95 million bpd, in the fourth quarter - to 0.97 million bpd.
OPEC expects Azerbaijan's oil production growth at 0.01 million bpd in 2012.
In the third quarter of 2012, according to OPEC forecasts, the country's oil production will amount to 0.97 million bpd, in the fourth quarter it will reach 0.99 million bpd.
According to BP, the proven oil reserves of Azerbaijan amounted to 7 billion barrels as of early 2011. Oil production in the country amounted to 1.037 million bpd in 2010.
The main volume of oil produced in Azerbaijan falls to the offshore field Azeri-Chirag-Guneshli. This area produces Azeri Light oil with a sulfur content of 0.15 percent (35 degrees API).
Participants of the project to develop Azeri-Chirag-Guneshli are: BP (operator - 35.83 percent), Chevron (11.27 percent), Inpex (10.96 percent), AzACG (11.6 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), Itocu (4.3 percent) and Hess (2.72 percent).