According to OPEC forecasts, in 2015 Azerbaijan plans to extract on average 820,000 barrels of oil. Oil production could go down by 30,000 barrels a day against the same year, reads the annual OPEC report about the oil market.
According to the report, in April 2015 oil production in Azerbaijan totaled 860,000 barrels a day, down by 20,000 barrels a day against the same period last year.
In quarter 1, 2015 oil production on the Azeri-Chirag-Guneshli (ACG) bloc of fields totals 661,000 barrels a day. In May 2015 BP suspended operation of the Western Azeri platform for three weeks for the preventive works. The productivity of the platform was 150,000 barrels a day. Therefore, OPEC expects that in June 2015 oil production will decline by about 50,000 barrels a day.
According to the OPEC estimates, in quarter 1, 2015 oil production in Azerbaijan totaled 850,000 barrels a day.
In quarter 2, 2015 OPEC forecast oil production in the country to total 870,000 barrels a day, in quarter 3, 2015 – 860,000 barrels a day and in quarter 4, 2015 – 790,000 barrels a day.
