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Absheron field to drive growth in Azerbaijan’s oil and gas production by 2029

04 November 2025 11:18 (UTC +04:00)

The Absheron field will be the main source of growth in oil and gas production in 2029, APA reports.

This is reflected in the draft law “On the State Budget of the Republic of Azerbaijan for 2026,” discussed today at the meeting of the Milli Majlis Committee on Economic Policy, Industry, and Entrepreneurship.

Thus, starting from 2029, an increase in oil and gas production across Azerbaijan is expected.

The main source of this growth will be the full-scale development of the Absheron gas-condensate field.

According to forecasts, oil production in the country will decrease from 28.6 million tons in 2025 to 27.6 million tons in 2026, 27.1 million tons in 2027, and 26.6 million tons in 2028. However, the commissioning of the second phase of the Absheron field in 2029 will increase oil production to 27.4 million tons — 0.8 million tons or 3% more than in 2028.

The document also notes a similar trend in gas production. In 2025, gas output in Azerbaijan is expected to reach 38 billion cubic meters, 36.7 billion in 2026 and 2027, and 34.5 billion in 2028. With the operation of the Absheron field, gas production in 2029 is forecast to reach 37 billion cubic meters — an increase of 2.5 billion cubic meters or 7.2% compared to 2028.