Oil production in Azerbaijan grows, gas production decreases

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Oil production in Azerbaijan in Q1 2018 amounted to 9 million 662.4 thousand tons, which is 2.2% higher than the index for the same period last year.

As reported in the monthly report of the State Statistics Committee of Azerbaijan, in January-March 2018, commercial oil production amounted to 9 million 649.8 thousand tons (an increase of 2.2%).

According to the report, in Q1 2018, Azerbaijan produced 7,145.8 mcm of gas (a decrease of 5.8% compared to January-March 2017). At the same time, production of commercial gas in the reporting period amounted to 4,443.3 mcm (down 5.8%).

The government of Azerbaijan forecasts the oil production in 2018 at the level of 37 million 534.8 thousand tons. The gas production is forecast at the level of 30,498.3 mcm.


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