Bloomberg News

Azeri Oil Production Fell in First Five Months, Gas Output Grew

June 13, 2012

Azerbaijan, the third-largest oil producer in the former Soviet Union, pumped less crude in the first five months of the year and produced more natural gas.

The Caspian Sea nation produced 18.5 million metric tons of marketable oil, down 7.5 percent from a year earlier, the State Statistics Committee said on its website today, without giving a reason for the decline. Production of marketable gas grew 8.5 percent to 7.4 billion cubic meters, it said.

State Oil Co. of Azerbaijan earlier attributed lower oil output to increased safety measures at the BP Plc-led Azeri- Chirag-Guneshli field after the Gulf of Mexico oil spill.

The value of the production from the Azerbaijan oil and gas industry slid 5.1 percent in the five months, the committee said. The country produced 45.6 million tons of oil and 25.8 billion cubic meters of gas last year, down from 50.8 million tons and 26.3 billion cubic meters of gas a year before.

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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