The Organization of the Petroleum Exporting Countries (OPEC) has updated its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2024-2025, APA-Economics reports citing the monthly report of OPEC.
According to the forecast by OPEC, liquid supply in Azerbaijan will increase slightly by about 10 tb/d to an average of 0.7 mb/d in 2025 (the forecast didn't change).
Azerbaijan’s liquids supply for 2024 is forecast to rise by about 15 tb/d (the previous forecast was 20 tb/d) to an average of 0.7 mb/d.
Growth is forecast to come partly from the Shah Deniz, Absheron, and Umid-Babek gas condensate projects. Production in Azerbaijan’s ACG oil fields should also get a boost this year due to a seventh ACG platform.
According to the OPEC report, the average daily production of oil and other liquid hydrocarbons in the country in 2023 was approximately 0.7 mb/d. This means a decrease of 60 tb/d barrels compared to the previous year and is about 15 tb/d barrels more than the previous growth rate forecast.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
