Azeri Q1 Oil Production Up Y/Y, Gas Down

Crude oil and condensate production in Azerbaijan rose to 10.6 million tonnes in the first quarter of 2015 from 10.4 million tonnes in the same period last year, a source at the State Statistics Committee said on Monday.

 

The source, who declined to be named because he is not authorised to talk to the press, said rising oil output at the main Azeri, Chirag and Guneshli (ACG) oilfields operated by British major BP had been the reason for the overall increase.

 

The source added that natural gas production for consumers declined to 7.3 billion cubic metres (bcm) in the first three months of this year, down from 7.57 bcm a year ago due to a decline in gas production by Azeri state energy company SOCAR.