Azerbaijan increases natural gas production

From January to July of this year, Azerbaijan produced approximately 29.5 billion cubic meters of natural gas, which is 1.3 billion cubic meters, or 4.6% more, compared to the same period last year, Azernews reports, citing the Ministry of Energy, this includes 7.7 billion cubic meters from the "Azeri-Chirag-Gunashli" (ACG) fields, 16.5 billion cubic meters from the "Shah Deniz" field, 0.9 billion cubic meters from the "Absheron" field, and 4.4 billion cubic meters produced by the State Oil Company (SOCAR).

During this period, gas exports amounted to approximately 14.7 billion cubic meters, a 5.7% increase from the previous year. Of this, approximately 5.8 billion cubic meters were sold to Turkey, 7.5 billion cubic meters to Europe, and 1.4 billion cubic meters to Georgia. Notably, 3.3 billion cubic meters of gas were transported to Turkey via TANAP during this time.

As of August 1, 2024, a total of 641.4 million tons of oil (including condensate) and 449.5 billion cubic meters of gas have been produced from the ACG and Shah Deniz fields. Of this, 594.4 million tons of oil and 224 billion cubic meters of gas were produced from ACG, while Shah Deniz contributed 225.5 billion cubic meters of gas and 47 million tons of condensate. To date, approximately 639.5 million tons of oil (including condensate) and 160.7 billion cubic meters of gas have been exported from these fields.

In the first seven months of this year, Azerbaijan produced around 16.9 million tons of oil (including condensate). This includes 9.7 million tons from the ACG fields, 2.5 million tons (condensate) from the Shah Deniz field, and 0.3 million tons (condensate) from the Absheron field. SOCAR's production amounted to 4.4 million tons of oil (including condensate).

During this period, approximately 14.1 million tons of oil (including condensate) were exported, with 12.2 million tons belonging to the consortium and 1.9 million tons to SOCAR.

In July 2024, daily oil production (including condensate) was 80,589 tons, comprising 65,681 tons of crude oil and 14,908 tons of condensate.