In January 2023, oil production with gas condensate in Azerbaijan amounted to 2 million 692 thousand tons, by 7.2% lower than in January last year.

During the reporting period, the production of marketable oil with condensate amounted to 2 million 685.9 thousand tons, the monthly report of the State Committee on Statistics of the Republic of Azerbaijan. A year ago, the commercial volume of liquid hydrocarbons in the country amounted to 2 million 886.3 thousand tons.

That is, in January, the volume of commercial production of oil and condensate decreased by 200.4 thousand tons, or 6.9%.

Based on the data of the Ministry of Energy of Azerbaijan, in January 2023, the average daily production in the country was 652 thousand barrels of oil and condensate, when in January 2022 this figure was 700.5 thousand barrels. That is, the volume of reduction in the daily production of liquid hydrocarbons in Azerbaijan in January of this year amounted to 48.5 thousand barrels.

At the end of 2022, 32 million 575.1 million tons of commercial volumes of oil and condensate were produced in Azerbaijan (a decrease of 5.6%).

According to government forecasts, in 2023 it is planned to produce 31 million 222.3 thousand tons of oil and condensate. That is, compared to 2022, production volumes should decrease by 1 million 352.8 thousand tons. In order for the government’s forecast to come true, monthly oil production should have been reduced by 112.7 thousand tons. As you can see, in January the volumes of decline exceeded the monthly average by almost 1.8 times

Source: Turan News Agency