The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the production of average oil and other liquid hydrocarbons in Azerbaijan for 2022 by 60,000 b/d, Report informs, citing OPEC.
In 2022, Azerbaijan's production of liquid hydrocarbons is projected at 800,000 b/d, 6,000 b/d less than previously expected, as production in the first quarter was lower than forecast.
According to OPEC, the average daily production of oil and other liquid hydrocarbons in Azerbaijan in 2021 increased by 10,000 b/d to 740,000 b/d.
OPEC forecasted that in March 2022, the country's average production of oil and other liquid hydrocarbons would drop by 8,000 b/d to 740,000 b/d.
The main decline in the offshore ACG crude is expected to be partially offset by ramp-ups in other fields, such as Shah Deniz Phase 2. Azerbaijan's liquids production was expected to increase in April 2022 to an average of 800,000 b/d.