Azeri Jan-Oct oil output falls 2 pct year on year

Business

21:45 | 17.11.2015

Azeri Jan-Oct oil output falls 2 pct year on year

Azerbaijan's crude oil and condensate production for the first 10 months of 2015 fell 2 percent year on year to 35 million tonnes, a source at the State Statistics Committee said on Tuesday.

Azerbaijan's natural gas production fell to 24.5 billion cubic metres (bcm) in the January-October period, from 25.2 bcm a year earlier, on lower output from state energy company SOCAR, the source said.

Crude oil and condensate production fell to 41.9 million tonnes last year from 43.1 million in 2013. Natural gas output was 29.2 bcm in 2014.

Oil production rose to 14.2 million tonnes in the first four months of 2015 from 13.6 million a year earlier.

Output started to decline in May, however, as BP suspended operations at one platform in the Caspian Sea, West Azeri, for 22 days of planned maintenance.

Azerbaijan plans to produce 40.7 million tonnes of oil and 30.2 bcm of gas in 2015.

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