Azerbaijan’s oil production decreases in 2012: Statistics Committee
By Aynur Jafarova
Azerbaijan produced 18.12 million tons of oil and gas condensate in January to May, 2013, which is 2.2 percent less than the similar period of 2012, according to the Azerbaijan State Statistics Committee.
In total Azerbaijan produced 42.98 million tons of oil and gas condensate in 2012, which is 5.3 percent less compared to 2011.
According to the Statistics Committee, last year main volume of oil production came to the Azeri-Chirag-Guneshli oil and gas field and Shah Deniz gas condensate field which are developed jointly with foreign partners.
The giant ACG block of fields has been producing since 1997. The production started from the Chirag part of the field and continues successfully. This was followed by the Azeri Project: Central Azeri production started in February 2005, West Azeri began producing in December 2005, and East Azeri came on stream in October 2006. The Deepwater Gunashli section launched production in April 2008.
Equity participation in the ACG contract is as follows: BP (operator) has 35.78 percent, Chevron holds 11.27 percent, Inpex with 10.96 percent, AzACG with 11.65 percent, Statoil with 8.56 percent, Exxon with 8 percent, TPAO with 6.75 percent, Itochu with 4.3 percent; Hess has sold its 2.72 percent share to India's ONGC.
The Shah Deniz field, which is one of the world's largest gas-condensate fields, was discovered in 1999. Its reserves are estimated at 1.2 trillion cubic meters of gas. Overall, the field has proved to be a secure and reliable supplier of gas to Azerbaijan, Georgia and Turkey as well as Europe.
A monthly Short-Term Energy Outlook of the U.S. Energy Information Administration (EIA) predicts that in 2013 Azerbaijan's oil production will amount to 0.9 million bpd compared to 0.93 million bpd in 2012.
EIA expects Azerbaijan's oil production to amount to 0.91 million bpd in the second quarter of 2013 - unchanged from the first quarter of the year. According to the EIA's forecasts, the output in the country will amount to 0.87 million bpd in the third quarter and to 0.9 million bpd in the last quarter of 2013.
British BP's Statistical Review of World Energy says that Azerbaijan's oil production in 2012 stood at 872,000 barrels a day, which is 5.2 percent less than production in 2011.
Azerbaijan's share in global oil production last year totaled 1.1 percent.
According to BP estimates, oil consumption in the country increased by 5.4 percent to 93,000 per day in 2012.
BP, giant foreign operator developing offshore oil and gas fields in Azerbaijan has upheld its estimates of proven oil reserves in Azerbaijan at seven billion barrels.
Gas production
According to the Statistics Committee, Azerbaijan's gas production in January to May, 2013, amounted to about 7.4 billion cubic meters (tank gas) which is 0.2 percent less than in January to May, 2011.
In total gas production in 2012 amounted to 17.24 billion cubic meters (excluding associated gas). This figure is 5.4 percent more than in 2011.
According to BP's report, gas production in Azerbaijan amounted to 15.6 billion cubic meters in 2012, which is 5.1 percent more than in 2011.
According to BP estimates, gas consumption in Azerbaijan increased by 3.7 percent up to 8.5 billion cubic meters in 2012.
Electric energy production
In this period Azerbaijan produced 8.94 billion kilowatt/hours electric energy which is 2.5 less than the same period of 2011, Statistics Committee reported.
Last year Azerbaijan produced 20.43 billion kilowatt/hours of electric energy and this figure is 6.8 percent more compared to 2011.