...

OPEC shares data on dynamics of Azerbaijan’s oil output

Oil&Gas Materials 31 July 2023 12:21 (UTC +04:00)
Laman Zeynalova
Laman Zeynalova
Read more

BAKU, Azerbaijan, July 31. Azerbaijan’s daily crude oil output has decreased by 5.4 percent year-on-year in 2022, Trend reports.

OPEC estimates that the country produced around 558,000 barrels per day in 2022, as compared to nearly 590,000 barrels per day in 2021.

Meanwhile, the volume of daily oil production in Azerbaijan was 725,000 barrels, 678,000 barrels and 611,000 barrels in 2018, 2019 and 2020, respectively.

As such, the country’s oil output has decreased by more than 23 percent last year as compared to 2018.

Azerbaijan exported 12.8 million tons of crude oil and petroleum products worth $7.8 billion from January through June 2023.

According to the State Customs Committee of Azerbaijan, the top 3 importers of Azerbaijani oil are headed by Italy (4.9 million tons worth $3 billion), followed by Spain (1 million tons worth $644.6 million) and Israel (1 million tons worth $631.3 million) from January through June 2023.

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%).

Follow the author on Twitter: @Lyaman_Zeyn

Tags:
Latest

Latest