Bloomberg News

Azeri Oil, Natural-Gas Production Declined in First Four Months

May 15, 2012

Azerbaijan pumped less oil and natural gas in the first four months of the year compared with the same period a year earlier, the State Statistics Committee said on its website today.

The Caspian Sea nation produced 14.8 million metric tons of marketable oil in the January-April period, down from 15.9 million tons a year earlier, according to data on the committee website. Gas output declined to 6 billion cubic meters from 8.4 billion cubic meters.

Azerbaijan, the third-largest oil producer in the former Soviet Union after Russia and Kazakhstan, pumped 45.6 million tons of oil last year compared with 50.8 million tons the year before. Gas production fell to 25.7 billion cubic meters from 26.3 billion cubic meters.

Azerbaijan cut oil output to ensure the peak period of production from the BP Plc-led Azeri-Chirag-Guneshli field, or ACG, continues for 10 to 15 years, State Oil Co. (ATPG:US) of Azerbaijan Vice President Elshad Nasirov said in a May 1 interview.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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