Azerbaijan’s oil and condensate production from ACG and Shah Deniz down by nearly 12%

Azerbaijan produced a total of 5.3 million tons of oil (including condensate) from the Azeri-Chirag-Gunashli block of fields and Shah Deniz field in the first three months of 2024, which is a decrease of 0.7 million tons, or 11.7 percent, compared to the same period of the previous year, Report informs via the operational data of the Ministry of Energy.

In January-March 2024, the Azeri-Chirag-Gunashli field produced 4.2 million tons of oil for the reporting period, representing a decrease of 0.8 million tons, or 16 percent, from the period of 2023.

Meanwhile, the Shah Deniz field produced 1.1 million tons of condensate in the specified period, showing a growth of 0.1 million tons, or 10 percent, compared to the indicator of 2023.

Over the course of three months, 5.2 million tons of oil and condensate produced from the mentioned fields were exported, which is 0.8 million tons, or 13.3 percent, less than in the first three months of 2023.

Since the date of commissioning until April 1, 2024, the Azeri-Chirag-Gunashli and Shah Deniz fields produced 634.5 million tons of oil (including condensate). Of this, 588.9 million tons of crude oil were extracted from ACG, while 45.6 million tons of condensate were extracted from Shah Deniz.

A total of 632.5 million tons of oil (including condensate) were exported during the reporting period.