EIA ups forecasts for Azerbaijan’s petroleum output

By 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 November Short-term Energy Outlook (STEO).

Thus, the forecasts for Azerbaijani petroleum output for 2018 have remained unchanged from the previous report.

EIA estimates that petroleum and other liquids production in Azerbaijan will stand at 0.79 million barrels per day in 2019, while it was 0.78 million barrels per day in the previous report.

The production in Azerbaijan for Q4 2018 is forecasted at 0.79 million barrels per day, as compared to 0.78 million barrels per day in the last report.

This is while the country is expected to produce 0.80 million barrels of petroleum and other liquids per day in Q1 and Q2 of 2019 each, 0.79 million barrels per day in Q3 and 0.77 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.