EIA publishes forecast for oil production in Turkmenistan

Oil&Gas Materials 9 June 2023 19:00 (UTC +04:00)
Khayal Khatamzadeh
Khayal Khatamzadeh
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BAKU, Azerbaijan, June 9. Production of oil and other liquid hydrocarbons with a volume of 0.27 million barrels per day is projected in Turkmenistan in 2023, Trend reports.

As the International Energy Agency (IEA) said in its oil market outlook, the forecast for oil production in the country remained unchanged compared to the previous report.

According to the EIA, it is predicted that the quarterly production of oil and other liquid hydrocarbons in Turkmenistan this year will amount to 0.27 million barrels per day.

It is predicted that in 2024 Turkmenistan will produce 0.27 million barrels of oil per day. This means that the quarterly daily production of raw materials will also amount to 0.27 million barrels.

The total volume of oil production in Turkmenistan in 2021, according to official data, amounted to more than 8.9 million tons, which is 7.3 percent less than a year earlier, when 9.6 million tons of oil were produced.

Meanwhile, according to the Turkmengaz State Concern, the country's hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent. This volume includes more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas.