Azeri Oil Output Fell 5.3% Last Year, Gas Production Rose 5.4%

Azerbaijan, the third-largest oil producer in the former Soviet Union, pumped less crude last year as the BP Plc-led Azeri-Chirag-Guneshli field cut production.

The Caspian Sea nation produced 43 million metric tons of oil, down 5.3 percent from 2011, the State Statistics Committee said today on its website. Production of marketable natural gas rose 5.4 percent to 17.2 billion cubic meters, it said.

Volumes from the ACG field, which accounted for 78 percent of the country’s production in 2011, fell 12 percent in the first half of last year. BP, which replaced regional managers after President Ilham Aliyev accused it of making mistakes, has promised to stabilize output this year, Aliyev said Jan. 15.

The largest oil producers in the former Soviet Union are Russia and Kazakhstan.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net

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