BAKU, Azerbaijan, July 8
By Leman Zeynalova - Trend:
Azerbaijan’s petroleum and other liquids production will stand at 0.71 million barrels per day in 2020, as compared to 0.79 million barrels per day in 2019, the US Energy Information Administration (EIA) said in its July Short-term Energy Outlook (STEO), Trend reports.
This is while in its June STEO, EIA expected this figure to stand at 0.73 million barrels per day.
The country’s expected quarterly production for 2020 is as follows: 0.78 million barrels per day in the first quarter (Q1) of 2020, 0.69 million barrels per day in Q2, 0.68 million barrels per day and 0.71 million barrels per day in Q3 and Q4, respectively.
EIA forecasts that petroleum and other liquids production in Azerbaijan will rise in 2021 to stand at 0.74 million barrels per day, as compared to 0.75 million barrels per day in the previous STEO.
The expected production volume for the first and second quarters of 2021 is 0.73 million barrels per day and 0.74 million barrels per day, respectively and 0.75 million barrels per day for the third and fourth quarters each.
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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