Azeri oil output down, gas up in January-March quarter

Azerbaijan's oil and condensate output fell by 2.9 percent year on year in the first quarter of 2014 to 10.4 million tonnes, the State Statistics Committee said on Tuesday.

Falling output at the Azeri, Chirag and Guneshli (ACG) oilfields - the biggest oil production project in Azerbaijan and one of the largest globally for oil major BP - have raised concerns in Baku.

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

Decline in oil output in the January-March quarter was linked to lower output at main oilfields Azeri, Chirag and Guneshli, sources from the oil industry said.

The committee did not release separate figures for oil output at the ACG.

Output at the ACG last year fell 2.2 percent to 32.2 million tonnes from 32.9 million.

BP said earlier this year that oil production at ACG 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.

Azerbaijan has said its total oil and condensate production rose by 0.4 percent in 2013 to 43.1 million tonnes after two years of decline.

(Reuters)

ANN.Az