Azerbaijan Pumps Less Oil, Natural-Gas in First Four Months
Azerbaijan, the third-largest oil producer in the former Soviet Union, pumped less crude in the first four months as production continued to decline from the country’s largest deposit led by BP Plc. (BP/)
The Caspian Sea nation produced 14.3 million metric tons of oil in January through April, a decline of 3.4 percent from a year earlier, according to data published today on the website of the State Statistics Committee, based in Baku, the capital. Production of natural gas fell 1.7 percent to 5.9 billion cubic meters, the data show.
The offshore Azeri-Chirag-Guneshli field, known as ACG, cut production 8.4 percent in the first quarter to 8.06 million tons (662,000 barrels a day), BP said on May 7. ACG, where partners include State Oil Co. of Azerbaijan, or Socar, Statoil ASA (STL), Exxon Mobil Corp., and Chevron Corp. (CVX), produced 32.9 million tons of oil last year, or 77 percent of the country’s total output.
Azerbaijan increased production of marketable natural gas 5.4 percent to 17.2 billion cubic meters last year. The country exports the fuel to Russia, Georgia and Turkey.
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