BAKU, Azerbaijan, Nov.14. Azerbaijan's liquids production in September increased m-o-m by a minor 5,000 barrels per day to average 0.7 million barrels per day, but this was down by 38,000 barrels per day year-on-year, Trend reports November 14 with reference to OPEC.
Crude production averaged 558,000 barrels per day, according to official sources.
"For 2022, liquids supply in Azerbaijan is estimated to decline marginally by 6,000 barrels per day year-on-year to average 0.7 million barrels per day. This has been revised down by 10,000 barrels per day because of lower-than-expected production in major oil fields in 3Q22. No new projects are expected to come online in the country in 2022, and the main declines in legacy fields are expected to be offset by ramp-ups in other fields," the cartel said in its latest report.
OPEC estimates that Azerbaijan's liquids supply for 2023 will rise by 49,000 barrels per day to average 0.8 million barrels per day, according to the voluntary production adjustments agreed on at the 33rd OPEC and non-OPEC Ministerial Meeting. Growth is forecast to come from the Shah Deniz and Absheron condensate projects and the Azeri Central East project.
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