Growth of oil and gas production registered in Azerbaijan in quarter 1, 2014

During quarter 1, 2014 Azerbaijan extracted 10,562,000 tons of oil, up 2.5% against the same period in 2013, said Azerbaijan Energy Minister Natig Aliyev at the session of the Cabinet of Ministers.

He said during this period the republic has extracted 7,677,000,000 cub.m. of tank gas, up 557,000,000 cub.m. or 7.8% against the same period in 2013.

He said during this period oil production from the  bloc of Azeri-Chirag-Guneshli (ACG) fields totaled 7,908,000 tons, up 214,000 tons against the plan.

“Oil production on the Western Chirag platform started in January 2014. The platform is able to produce 25,000 tons of oil and 8 million cub.m. of gas a day. Every year the platform will extract 8.2 million tons of oil and 2.8 billion cub.m. of gas,” Aliyev added.

Despite optimistic report of the Energy Minister, the production is going to decline significantly on ACG after launching of the Western Chirag platform. There are objective reasons for that – the production on two big production platforms will be suspended this year for repair.—0—

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