Reuters logo
UPDATE 1-Azeri Jan-Feb oil production up 0.8 pct y/y, gas down - source
March 12, 2015 / 1:46 PM / 3 years ago

UPDATE 1-Azeri Jan-Feb oil production up 0.8 pct y/y, gas down - source

(Adds details, background)

BAKU, March 12 (Reuters) - Crude oil and condensate production in Azerbaijan rose to 6.952 million tonnes in January-February from 6.897 million tonnes in the same period last year, a source at the State Statistics Committee said on Thursday.

The source, who declined to be named because he is not authorised to talk to the press, said rising oil output at the main Azeri, Chirag and Guneshli (ACG) oilfields operated by British major BP had been the reason for the overall increase.

The source added that natural gas production declined to 4.765 billion cubic metres (bcm) in the first two months of this year, down from 5.032 bcm a year ago due to a decline in gas production by Azeri state energy company SOCAR.

The source said that oil production at ACG rose by 2.2 percent in January-February, while natural gas production by SOCAR declined by 0.4 percent.

Crude oil and condensate production in Azerbaijan fell to 41.9 million tonnes last year from 43.1 million tonnes in 2013.

Falling output at the ACG oilfields has been a cause of concern in Baku.

BP and its partner, Azeri state energy firm SOCAR, tried to calm those worries in 2013, saying production had stabilised. Total oil output rose in 2013 for the first time since 2011. But the decline resumed last year.

Production rose this January to 3.7 million tonnes, up from 3.6 million tonnes in January 2014.

Azerbaijan plans to produce 40.3 million tonnes of oil and 29 bcm of gas in 2015. (Reporting by Nailia Bagirova; Writing by Margarita Antidze; Editing by Ruth Pitchford)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below