From January to August 2013 the country extracted 29,121,300 tons of oil. The oil production decreased by 300,000 tons or by 1% against the same period last year.
Azerbaijan Stat Statistical Committee reported that in August the country produced 3,643,100 tons of oil.
In 2012 Azerbaijan extracted 42,984,900 tons of oil. In 2011 it produced 45,370,900 tons of oil, but in 2010 oil production totaled 50,834,300 tons.-0-
Economics
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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In 2024, Europe will receive approximately 12.5 billion cubic meters of gas from Azerbaijan, with the list of buyers expanding to 12 countries. Speaking at an energy forum in Istanbul on Friday, SOCAR President Rovshan Najaf announced that cooperation with a 12th, new gas buyer would begin in December.
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