EIA reveals forecasts for Azerbaijan’s petroleum output in 2020-2021
BAKU, Azerbaijan, Jan.15
By Leman Zeynalova – Trend:
Azerbaijan is expected to produce 0.76 million barrels of petroleum and other liquids per day in 2020, the US Energy Information Administration (EIA) said in its January Short-term Energy Outlook (STEO), Trend reports.
According to EIA estimates, the country’s petroleum and other liquids stood at 0.79 million barrels per day as of 2019.
Azerbaijan is expected to lower its production to stand at 0.74 million barrels per day in 2021, according to the report.
The quarterly forecasts for petroleum and other liquids production in Azerbaijan for 2020 is as follows: 0.78 million barrels and 0.77 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, respectively.
In 2019, the quarterly production was as follows: 0.82 million barrels per day in Q1, 0.79 million barrels per day in Q2, 0.78 million barrels per day in Q3 and 0.77 million barrels per day in Q4.
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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