OPEC announces outlook for production of liquid hydrocarbons in Azerbaijan

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The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan this year by 0.06 million barrels to 0.76 million barrels. This is 0.03 million barrels more than last year, said the organization’s report for May.

In March this year, the production of liquid hydrocarbons in Azerbaijan decreased by 0.01 million barrels to 0.77 million barrels per day. Production is expected to remain at the same level in April.

The average daily production of natural gas and condensate in the gas condensate fields in the Azerbaijani sector of the Caspian Sea in January-April this year reached 0.18 million barrels. Also, the condensate produced from the development of the Shah Deniz gas condensate field reached a record level in January this year, and the daily production was 193,000 tons.