BAKU, Azerbaijan, April 15. From January to March 2024, Azerbaijan produced 7.261 million tons of oil and gas condensate, six percent less than the same period in 2023, Trend reports via the State Statistics Committee.
According to the source, commercial oil production with condensate fell by six percent to 7.244 million tons.
The fall is mostly due to a cut in crude oil output at the key block of Azerbaijan's assets, Azeri-Chirag-Guneshli, due to natural geological reasons.
In 2023, Azerbaijan produced 30.19 million tons of oil with gas condensate, a 7.5 percent decrease from 2022.
The government expects the country's oil and condensate output to be between 29.5 and 30.0 million tons in 2024.
Azeri-Chirag-Guneshli is an oil field complex in the Caspian Sea, approximately 120 kilometers off the coast of Azerbaijan. It consists of the Azeri and Chirag oil fields, as well as the deepwater portion of the Gunashli oil field.