The Organization of the Petroleum Exporting Countries (OPEC) has not changed the forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2022, Report informs referring to the February report of the organization.
The forecast for the growth of oil and condensate production in Azerbaijan this year is 0.82 million barrels per day. The assessment has not changed when compared with the previous one (in relation to the January forecast).
“Azerbaijan’s liquids supply is estimated to have grown by 0.01 million barrels per day (mb/d) year-on-year (y-o-y) to average 0.74 mb/d in 2021, while for 2022, growth of 0.08 mb/d y-o-y is forecast for an average of 0.82 mb/d,” reads the report.
“Azerbaijan’s liquids production in December increased by 0.01 mb/d month-on-month (m-o-m) to average 0.75 mb/d, up by 0.02 mb/d y-o-y. Crude production inched up by 6,000 b/d m-o-m to average 595,000 b/d as maintenance was completed on the Chirag platform.”
Condensate output held steady at 150,000 b/d, according to official sources.
Azerbaijani liquids production is expected to increase in January 2022 to average 0.81 mb/d, following the completion of maintenance.