Azerbaijan oil exports decline 1.5 pct in H1 2014

Azerbaijan's oil exports fell 1.5 percent year-on-year in the first half of 2014 due to a decline in oil production at its main fields, where BP has a major interest, a source at the State Customs Committee told Reuters.

The source said Azerbaijan exported 17.028 million tonnes of oil, down from 17.285 million in the same six months last year.

Exports of oil via Russia through the Baku-Novorossiisk pipeline were 508,997 tonnes, down from 823,323 tonnes.

Exports through the Baku-Supsa pipeline via Georgia were 2.075 million tonnes, up from 1.925 million tonnes, while exports through Baku-Tbilisi-Ceyhan via Georgia and Turkey were 13.999 million tonnes, down from 14.057 million.

Oil exports shipped by a rail via Georgia declined to 445,027 tonnes from 478,479 tonnes.

Azerbaijan's oil and condensate output fell 2.8 percent in the first half of 2014, a source at the State Statistics Committee said earlier this week, driven by declines at fields operated by BP.

Falling output at the main Azeri, Chirag and Guneshli (ACG) oilfields had previously raised concerns in Baku.

BP and its partner, Azeri state energy firm SOCAR, have tried to calm those fears by saying last year that production had stabilised. Total oil output grew last year for the first time since 2011.

BP said earlier this year that oil production at ACG in 2014 might be slightly lower than in 2013 as the company planned maintenance work at the Central Azeri and West Azeri platforms, halting operations for a couple of weeks.

The company did not say when the work would start. 

Bakudaily.az