EIA Revises Forecast for Oil Production in Azerbaijan

Oil and condensate production in Azerbaijan will be 0.79 million barrels per day in 2018.

According to EIA forecasts, published in the February review of the energy market, in 2019 production will be 0.78 million barrels per day. Thus, the EIA retained the forecast for 2018, published in the previous review, but raised the forecast for 2019 from 0.77 million barrels per day.

The bulk of oil produced in Azerbaijan falls on the block of offshore Azeri-Chirag-Gunashli fields. This block produces 75% of all oil production in the country.