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EIA ups forecasts for Azerbaijan’s petroleum output in 2020

Oil&Gas Materials 14 November 2019 12:45
EIA ups forecasts for Azerbaijan’s petroleum output in 2020

BAKU, Azerbaijan, Nov.14

By Leman Zeynalova – Trend:

Azerbaijan is expected to produce 0.79 million barrels of petroleum and other liquids per day in 2019, the US Energy Information Administration (EIA) said in its November Short-term Energy Outlook (STEO), Trend reports.

Thus the forecast for 2019 has remained unchanged from the previous STEO.

The country is expected to produce 0.78 million barrels per day in Q3 and Q4 2019 each.

EIA expects the production level in Azerbaijan will be equal to 0.76 million barrels per day in 2020, as compared to 0.75 million barrels per day in the previous STEO.

The quarterly forecasts for petroleum and other liquids production in Azerbaijan for 2020 is as follows: 0.77 million barrels and 0.76 million barrels of petroleum and other liquids per day in Q1 and Q2, respectively, 0.75 million barrels per day and 0.76 million barrels per day in Q3 and in Q4, each.

The volume of petroleum and other liquids output in the country stood at 0.81 million barrels per day as of 2018, according to EIA.

The Azeri-Chirag-Gunashli block of offshore fields is giving the major part of the oil produced in Azerbaijan. The Azerbaijani Light oil is produced at that block.

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Follow the author on Twitter: @Lyaman_Zeyn

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