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Plans for oil and gas production in Azerbaijan for 2023 have been announced
Baku/24.02.23//Turan: It is planned to produce 33.4 million tons of oil and 47.2 bcm of gas in Azerbaijan this year, the Minister of Energy of Azerbaijan Parviz Shahbazov said. According to him, it is planned to allocate 24.5 bcm of gas for export.
"Azerbaijan's new energy projects will further increase the volume of exported petroleum products. The Southern Gas Corridor has great potential in ensuring the energy security of Europe and plans to increase the capacity of this corridor will be implemented," he said.
By the end of 2022, oil production in Azerbaijan amounted to 32.6 million tons (together with condensate). Exports accounted for over 26 million tons of oil, which is 1.09 million tons less than in 2021. In addition, in 2022, Azerbaijan as a whole produced 46.7 bcm of gas, of which 34.5 bcm were commodity volumes. Last year, Azerbaijan exported 22.3 bcm of gas. -0-
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- Politics
- 24 February 2023 15:10
Energy
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The State Oil Company of Azerbaijan (SOCAR) is launching the Leucipa monitoring program for the first time in the Caspian region to enhance production efficiency in the oil and gas industry, KOKAR reported. “SOCAR is implementing an innovative digital solution – the Leucipa monitoring program – to optimize processes and improve extraction efficiency. This initiative is part of a strategic collaboration with Baker Hughes. This project is a key part of SOCAR’s digital transformation strategy,” the company’s statement said.
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The daily oil production, including condensate, in Azerbaijan in January amounted to 74.5 thousand tons (559 thousand barrels). Of this volume, oil accounted for 61.7 thousand tons (454 thousand barrels per day), and condensate – 12.8 thousand tons (105 thousand barrels per day), the press service of Azerbaijan’s Ministry of Energy. Thus, Azerbaijan used 82.4% of its OPEC quota in January.
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In January 2025, Azerbaijan exported a total of 2 bcm of natural gas. Compared to January of the previous year, export volumes decreased by 300 mcm, the website of Azerbaijan’s Ministry of Energy. According to the ministry’s data, during the reporting period, Azerbaijan’s gas exports to Europe amounted to 1 bcm (a decrease of 100 mcm.)
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In January 2025, Azerbaijan exported 2 million tons of oil and condensate to foreign markets. The export volumes of liquid hydrocarbons from Azerbaijan decreased by 100 thousand tons, the website of Azerbaijan’s Ministry of Energy.
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