EIA reveals forecasts for Azerbaijan's petroleum output
Date
6/18/2018 11:22:35 PM
(MENAFN- Trend News Agency ) Baku, Azerbaijan, June 13
By Leman Zeynalova – Trend:
Azerbaijan is expected to produce 0.80 million barrels of petroleum and other liquids per day in 2018, the US energy Information Administration (EIA) said in its June Short-term Energy Outlook (STEO).
EIA estimates that petroleum and other liquids production in Azerbaijan will stand at 0.78 million barrels per day in 2019.
Thus, EIA's forecasts for petroleum production in Azerbaijan has remained unchanged from its May report.
The quarterly production in Azerbaijan for 2018 is forecasted as follows: 0.81 million barrels per day in Q2, 0.79 million barrels per day in Q3 and 0.77 million barrels per day in Q4.
This is while the country is expected to produce 0.79 million barrels of petroleum and other liquids per day in Q1 and Q2 of 2019 each, 0.78 million barrels per day in Q3 and 0.76 million barrels per day in Q4.
The Azeri-Chirag-Gunashli block of offshore fields is giving the major part of the oil produced in Azerbaijan. The Azerbaijani Light oil is produced at that block.
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