OPEC improves forecast for production of liquid hydrocarbons in Azerbaijan

Production of liquid hydrocarbons in Azerbaijan in 2021 will increase by 0.02 million barrels per day to an average of 0.750 million barrels per day, Report informs, quoting OPEC data for November. According to forecasts, next year is expected to grow by 0.07 million barrels per day compared with the current year to 0.820 million barrels per day on average.

OPEC notes that the production of liquid hydrocarbons in Azerbaijan in September dropped by 0.02 million barrels per day to 0.720 million barrels per day, which is 0.04 million barrels per day more than in the same period last year.

"While daily crude oil production fell 0.01 million barrels to an average of 0.586 million barrels. Daily condensate production, according to official sources, rose marginally to 0.117 million barrels," the report said.

According to OPEC, crude oil production in Azerbaijan has been declining since reaching an annual maximum of 0.618 million barrels per day in June. Crude oil production in July was 0.593 million barrels per day. "Preliminary estimates also show that crude oil production in August and September remained at 0.596 million barrels and 0.593 million barrels per day, respectively," the report said.

The maintenance of the Chirag deep-water platform began on September 23, which lasted for 25 days. Chirag is one of six platforms in the Azeri-Chirag-Guneshli block in the Caspian Sea, which is operated by the British company BP.