Azerbaijan’s nine-month oil production falls

Azerbaijan produced less crude oil in the first nine months of 2014 year-on-year, the State Statistics Committee said.

The country pumped 32.1 million tons of oil (about 870,000 barrels a day) in the January-September period, down from 32.5 million tons a year earlier, the committee said on its website.

Production of marketable natural gas grew to 13.8 billion cubic meters from 13.1 billion cubic meters.

Azerbaijan’s oil output has been on a decline since peaking at 51 million tons in 2010. The country pumped 43.1 million tons last year.

The decline is due to the falling production at the Azeri-Chirag-Guneshli (ACG) deposit in the Caspian Sea. 

BP-led ACG provides over 70 percent of total output. 

Bakudaily.Az