BAKU, Azerbaijan, Sept.14
By Leman Zeynalova – Trend:
Azerbaijan’s crude oil production is expected to stand at 669,000 barrels per day in 2022, as compared to 615,000 barrels per day as of 2021, Trend reports with reference to the US JP Morgan Bank.
The country’s quarterly crude production in 2022 is estimated as follows: 667,000 bpd in Q1 and 670,000 bpd in the subsequent quarters each.
JP Morgan’s report says that Azerbaijan will produce 661,000 bpd in January 2022 and 670,000 bpd for the rest of the months each.
At the 20th OPEC and non-OPEC Ministerial Meeting (ONOMM), held Sept.1 2021, the sides reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th ONOMM and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of October 2021.
The daily oil production (including condensate) in Azerbaijan in August 2021 amounted to 711,600 barrels, according to the Ministry of Energy.
The daily oil production (including condensate) over the same period in 2020 in Azerbaijan reached 669,100 barrels, of which 584,600 barrels were crude oil, and 84,500 barrels was condensate.
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