Azerbaijan cuts oil production in Q124

Azerbaijan produced 7.3 million tons of oil (including condensate) in January-March 2024, down 0.4 million cubic meters, or 5.2%, from the previous year, Report informs, according to operational data for the first quarter of 2024 released by the Ministry of Energy.

The Azeri-Chirag-Gunashli (ACG) block of fields accounted for 4.2 million tons of oil (-0.5 million tons, or 10.6%) produced in the republic, while Shah Deniz for 1.1 million tons (condensate) (remained the same) and Absheron for 0.14 million tons (condensate). SOCAR's oil output amounted to 1,9 million tons (including condensate).