Azerbaijan Q1 oil output up thanks to BP fields, gas falls

The source, who declined to be named because he is not authorised to talk to the press, said rising oil output at the main Azeri, Chirag and Guneshli (ACG) oilfields operated by British major BP had been the reason for the overall increase.

The source added that natural gas production for consumers declined to 7.3 billion cubic metres (bcm) in the first three months of this year, down from 7.57 bcm a year ago due to a decline in gas production by Azeri state energy company SOCAR.

Crude oil and condensate production in Azerbaijan fell to 41.9 million tonnes last year from 43.1 million tonnes in 2013. Natural gas output was 29.2 bcm in 2014.

Falling output at the ACG oilfields has been a cause of concern in Baku.

BP and its partner, SOCAR, tried to calm those worries in 2013, saying production had stabilised. Total oil output rose in 2013 for the first time since 2011, but the decline resumed last year.

Azerbaijan plans to produce 40.3 million tonnes of oil and 29 bcm of gas in 2015.