Azerbaijan’s gas production to exceed 27 billion cubic meters in 2014
Azerbaijan, Baku, Oct. 21 /Trend E. Ismailov/
According to the outlooks, oil production in Azerbaijan will amount to 40.97 million tons in 2014, compared to about 42.1 million tons which were expected in 2013, Azerbaijan's draft state budget, submitted to the parliament's consideration, said.
In 2012, oil production in Azerbaijan made up 43.4 million tons against 45.6 million tons in 2011.
According to outlooks, in 2015 the volume of oil production in the country will reach 41.74 million tons, in 2016 - 39.43 million tons, and in 2017 - 39.73 million tons.
The draft state budget for 2014 notes that gas production will see an increase, as opposed to oil. In particular, in 2014 the expected gas production in the country will amount to 27.36 billion cubic meters against 26.63 billion cubic meters, expected this year.
Gas production in the country in 2015, 2016 and 2017 will amount to 27.23 billion cubic meters, 27.56 billion cubic meters, and 27.58 billion cubic meters respectively.
In total, oil and gas worth 21.22 billion manats will be produced in Azerbaijan in 2014, compared to about 21.7 billion manats, expected in 2013. In 2015, 2016 and 2017 these figures will amount to 17.4 billion manats, 16.47 billion manats and 16.62 billion manats respectively.
The official rate for Oct. 21 is 0.7843 AZN/USD.