Azerbaijan Jan-Apr oil output up due to BP fields, gas falls

The source, who declined to be named because he is not authorised to talk to the media, said rising oil output at the main Azeri, Chirag and Guneshli (ACG) oilfields operated by Britain's BP had led the overall increase.

The source added that natural gas production fell to 9.7 billion cubic metres (bcm) in January-April from 10.2 bcm a year earlier due to a decline in production by state energy company SOCAR.

Crude oil and condensate production in Azerbaijan fell to 41.9 million tonnes last year from 43.1 million 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 (Swiss: FP.SW - news) oil output rose in 2013 for the first time since 2011, but the decline resumed in 2014.

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

 

(Reuters)