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Oil production falls in Azerbaijan so much for first time since 2012

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Oil production in Azerbaijan in 2017 amounted to 38 million 688.9 thousand tons. 

This is reported on the website of the State Oil Company of Azerbaijan.

In 2016, oil production in Azerbaijan, including gas condensate, amounted to 41 million 34.5 thousand tons. Thus, in 2017, compared to 2016, oil production in Azerbaijan decreased by 5.7% or by 2 million 345.6 thousand tons.

According to SOCAR, in December 2017, oil production in Azerbaijan amounted to 3 million 362.4 thousand tons.

It should be noted that Azerbaijan’s oil production last dropped at such high rates in 2012: by 5.27% or by 2 million 393 thousand tons. Record-breaking rates of production decrease in Azerbaijan in the 21st century were recorded in 2011 (after the peak of production in 2010 – 50.8 million tons) – by 10.8% or by more than 5 million tons.

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