Azerbaijan reveals crude oil production outlook for 2021
BAKU, Azerbaijan Jan. 5
By Fidan Babayeva - Trend:
Crude oil production from the Azeri-Chirag-Deepwater Gunashli (ACG) field in the Azerbaijani sector of the Caspian Sea will reach 171.6 million barrels in 2021, Trend reports.
This is stated in the conclusion of the Chamber of Accounts of Azerbaijan on the draft budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2021.
According to the data, in 2021, the volume of crude oil production at the ACG field will be 171.6 million barrels, which is 3 million barrels less than in 2020 (174.6 million barrels) due to a decrease in oil production.
From January through November 2020, Azerbaijan produced 31.6 million tons of oil (together with condensate), which is about 2.6 million tons less compared to the same period of 2019.
ACG field accounted for 21.6 million tons of oil, Shah Daniz - 3.2 million tons (together with condensate). SOCAR's share is 6.8 million tons (together with condensate).
During the reporting period, Azerbaijan exported 26 million tons of oil (together with condensate), which is almost 2.5 million tons or 8.8 percent less compared to the same period of 2019. Some 24.8 million tons of oil (together with condensate) were exported by the consortium, and 1.2 million tons - by the State Oil Company of Azerbaijan (SOCAR).