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Azerbaijan Increased Oil Production by 5.5% in August

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Oil production in Azerbaijan in August 2020 amounted to 584.6 thousand b / d against the July figure of 554.1 thousand b / d.

According to the Ministry of Energy of Azerbaijan, in August in Azerbaijan, the daily production of oil with condensate amounted to 669.1 thousand barrels, of which 584.6 thousand barrels fell on oil production, and 84.5 thousand barrels fell on condensate.

Azerbaijan reduced oil production by 133.4 thousand bpd in August.

“Taking into account the country’s obligations to reduce in August by 131 thousand bpd from October 2018, the country has fulfilled its obligations under the OPEC + deal by 101.8%,” the Ministry of Energy said.

In August, oil production from the Azeri-Chirag-Gunashli block amounted to 460.4 thousand bpd. Last month, SOCAR, as well as joint ventures and operating companies produced 124.2 thousand bpd of oil.

As previously reported, in May Azerbaijan fulfilled its obligations to reduce production within the framework of OPEC + by 98%, in June – by 100.1%, and in July – by 99.9%.

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