OPEC forecasts stable oil production in Azerbaijan in 2015, reads the monthly report of the organization released on August 11, 2015.
“It is expected that oil production in Azerbaijan will total in average 0.86 million barrels a day and will be stable in 2015. The forecast, which was published in the previous monthly report, did not change,” reads the document.
According to the OPEC report, in June 2015 oil production in Azerbaijan increased by 21,000 barrels a day and totaled in average 0.78 million barrels a day (after reduction by 57,000 barrels a day in May). Production declined in May as a result of the preventive works on the Western Chirag platform, which lasted from May 21 through June 6, 2015.
In May 2015 production of oil in Azerbaijan, including gas condensate, totaled 0.86 million barrels a day, reads the report.
OPEC forecasts that in 2015 oil production in Azerbaijan will total in average 0.85, 0.87, 0.86 and 0.79 million barrels of oil day.
Meanwhile, OPEC forecasts insignificant reduction of oil production in Azerbaijan in 2016. According to the forecasts, in each quarter in 2016 oil production will total 0.8 million barrels a day.
