Azerbaijan reveals oil and gas output figures
By Aynur Jafarova
Energy-rich Azerbaijan produced 38.4 million metric tons of oil and gas condensate in January-November 2014.
This figure amounted to nearly 39.5 million metric tons in the same period of 2013, Azerbaijan’s State Statistics Committee said.
Azerbaijan produced 43.1 million metric tons of oil and gas condensate in 2013, compared to 42.98 million metric tons in 2012.
The committee went on adding that in the reported period Azerbaijan produced around 17 billion cubic meters of commercial gas, which stood at 16.2 billion cubic meters in the same period of 2013.
Azerbaijan produced 17.9 billion cubic meters of commercial gas in 2013, compared to 17.24 billion cubic meters in 2012.
The major part of Azerbaijan's natural gas is produced from giant Shah Deniz gas condensate field in the Caspian Sea.
The proven gas reserves hit 2.3 trillion cubic meters in Azerbaijan, but when it comes to the projected reserves, the figure can reach six trillion cubic meters.
It is expected that the volume of gas production in Azerbaijan will reach 30.2 billion cubic meters in 2018, compared to 28.42 billion cubic meters forecasted for 2014.