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AZERBAIJAN EXPECTS DECLINE IN OIL OUTPUT IN 2015
09:53 * 29.10.14
Azerbaijan expects its oil output to decline by 2.5 percent
year-on-year in 2015, a source close to the government said, driven
by declines at fields operated by BP.
Falling output at the main Azeri, Chirag and Guneshli (ACG) oilfields
has been a cause of concern in Baku for several years, Reuters reports.
British oil major BP and its partner, Azeri state energy firm SOCAR,
tried to ease those worries last year by saying production had
stabilised. Total oil output grew last year for the first time since
2011 to 43.15 million tonnes.
Earlier this year, however, BP said 2014 oil production at ACG might
be slightly lower than in 2013, because it planned maintenance work
at the Central Azeri and West Azeri platforms, halting operations
for a couple of weeks.
The decline in output is likely to continue into next year, the
source said.
"According to our forecasts, oil output in Azerbaijan will decline
to 40.62 million tonnes in 2015 from 41.65 million tonnes expected
to be produced in 2014," the source told Reuters.
Read more here>>>
http://www.reuters.com/article/2014/10/28/azerbaijan-oil-output-idUSL5N0SN4PV20141028
http://www.tert.am/en/news/2014/10/29/azerbaijan-oil-production/
09:53 * 29.10.14
Azerbaijan expects its oil output to decline by 2.5 percent
year-on-year in 2015, a source close to the government said, driven
by declines at fields operated by BP.
Falling output at the main Azeri, Chirag and Guneshli (ACG) oilfields
has been a cause of concern in Baku for several years, Reuters reports.
British oil major BP and its partner, Azeri state energy firm SOCAR,
tried to ease those worries last year by saying production had
stabilised. Total oil output grew last year for the first time since
2011 to 43.15 million tonnes.
Earlier this year, however, BP said 2014 oil production at ACG might
be slightly lower than in 2013, because it planned maintenance work
at the Central Azeri and West Azeri platforms, halting operations
for a couple of weeks.
The decline in output is likely to continue into next year, the
source said.
"According to our forecasts, oil output in Azerbaijan will decline
to 40.62 million tonnes in 2015 from 41.65 million tonnes expected
to be produced in 2014," the source told Reuters.
Read more here>>>
http://www.reuters.com/article/2014/10/28/azerbaijan-oil-output-idUSL5N0SN4PV20141028
http://www.tert.am/en/news/2014/10/29/azerbaijan-oil-production/