BAKU, Azerbaijan, Sept.14
By Leman Zeynalova – Trend:
For 2020, in line with the decisions of the OPEC+ for crude oil production adjustment, liquids production in Azerbaijan is forecast to decline by 0.07 mb/d to average 0.72 mb/d, while for 2021, a minor decline of 0.01 mb/d is anticipated, Trend reports citing OPEC.
“Liquids output in Azerbaijan in June shows a m-o-m decline of 0.02 mb/d to average 0.68 mb/d, and continues more or less at the same level in July while the preliminary output in August indicates m-o-m growth of 0.03 mb/d to average 0.70 mb/d. Crude oil production was adjusted down to average 573 tb/d, 564 tb/d, 552 tb/d and 585 tb/d in May to August, respectively, compared to 684 tb/d in April,” reads the report.
Azerbaijan’s Ministry of Energy said that the daily production of oil (together with condensate) in the country in August 2020 made up 669,100 barrels.
Some 584,600 barrels out of the above volume were for crude oil and 84,500 barrels for condensate.
According to the report, 460,400 barrels of crude oil accounted for Azeri-Chirag-Gunashli (ACG), while 124,200 barrels for SOCAR.
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