BAKU, Azerbaijan, June 14
By Fidan Babayeva - Trend:
The annual production volume in the Neftchala and Khilli block of oil fields in Azerbaijan amounted to 0.16 million barrels in 2020, while the forecasted volume was 0.21 million barrels, Trend reports citing the report of the Chamber of Accounts on the budget of the State Oil Fund of Azerbaijan ( SOFAZ).
Reportedly, the forecast was fulfilled by 76.08 percent.
Failure to meet the production forecast is related with the COVID-19 pandemic, suspension of drilling due to falling prices for hydrocarbons in the global market and restrictions on oil production in accordance with the OPEC + agreement.
At the same time, actual receipts from these fields amounted to $161,790, or 4.93 percent more compared to the forecasted figure ($154,200).
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