BAKU, Azerbaijan, June 16. The volume of oil production in Azerbaijan has dropped from 44.6 million tons in 2008 to 32.7 million tons in 2022, a source in the country’s oil and gas market told Trend.
As such, the country saw a 26.7 percent decrease in oil output over the last 15 years.
The table below shows the evolution of oil production in Azerbaijan:
|
Year |
2009 |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
|
Oil production (million tons) |
50.4 |
50.8 |
45.6 |
43.4 |
43.5 |
42 |
41.6 |
41 |
38.7 |
38.8 |
37.5 |
34.5 |
34.6 |
The peak oil production during this period was recorded in 2010 at 50.8 million tons, while the lowest level so far was observed in 2020 with 34.5 million tons.
Proven recoverable and expected oil-condensate reserves in Azerbaijan stand at 2.54 billion tons.
More than 65 percent of oil production in Azerbaijan account for the Azeri-Chirag-Gunashli block of fields.
BP Exploration (Caspian Sea) Limited is the operator on behalf of the Contractor Parties to the ACG Production Sharing Agreement. ACG participating interests are: bp (30.37%), SOCAR (25.0%), MOL (9.57%), INPEX (9.31%), Equinor (7.27%), ExxonMobil (6.79%), TPAO (5.73%), ITOCHU (3.65%), ONGCVidesh (2.31%).
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