Oil output from Azerbaijan's Binagadi field down 3% in 2025

A total of 0.97 million barrels of oil was produced in 2025 from Azerbaijan's onshore Binagadi field, Report informs.

This was stated in the Chamber of Accounts' report on the results of an audit of the formation and use of the State Oil Fund of Azerbaijan's funds in key areas.

According to the report, the figure was 0.03 million barrels, or 3%, lower than in 2024.

Last year, oil production from the field had been forecast at 0.99 million barrels, meaning 98.25% of the projected volume was fulfilled.

The Binagadi oil and gas-bearing area is located in the northwestern part of the Absheron Peninsula. On September 29, 2004, the State Oil Company of Azerbaijan, SOCAR, and Azen Oil Company B.V. signed a joint development agreement. The contract area covers 43.5 square kilometers.

The Binagadi field has been in operation since 1896. The field is located 9 kilometers north of Baku. It has been operated by Binagadi Oil Company since 2005, while its operator is Azen Oil Company B.V., Global Energy.

The agreement, with a production-sharing structure of 25% for SOCAR's onshore oil and gas production unit and 75% for Azen Oil Company B.V., entered into force on September 1, 2005.