After a decade of strong growth, which lifted total liquids output to 1.04 million b/d in 2010, Azerbaijan has witnessed a strong decline in output. Liquids supply fell to 0.93 million b/d in 2011 and 0.87 million b/d in 2012, due primarily to production problems at the Azeri Chirag Guneshli (ACG) development. Total liquids output stabilised in 2013, but is expected to steadily decline in the long term, falling to 0.71 million b/d in 2030.
Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.
This country report gives an overview of the key upstream supply issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream supply report is your definitive commercial guide.
Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.
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Country report | Feb 2014
Azerbaijan oil supply summary
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