Azerbaijan to ramp up gas production, lower oil in 2017

26/01/2017 11:34 Natural Gas

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Resource-rich Azerbaijan is envisaging producing more gas and less oil in 2017, according to the energy minister Natiq Aliyev.

The country intends to increase gross gas production by 0.8% to 29.561bn m3 in 2017.

Last year, gas production dropped by 0.6% to 29.331bn m3 compared with 2015. Of that 18.714bn was commercial gas, a 3.9% decline from 2015, as more gas was needed for re-injection at the Azeri–Chirag–Gunashli (ACG) oilfields to keep up the crude oil production. Gas stored in underground facilities attained 1.167bn m3 as of January 1.

Azerbaijan’s total gas exports stood at 7.78bn m3, down 625mn m3 versus 2015.

Azerbaijan plans to complete the second phase of Shah Deniz gas field, expected to become operational initially next year, as well as keeping the SD1 output high.

The minister stated that it is expected more than 10bn m3of gas to be produced from SD1 in 2017, compared to 9.9bn m3 last year.

Meanwhile, the country is committed to keeping OPEC’s pledge in terms of oil output reduction. OPEC members agreed November 30, 2016 to cut oil output by 1.2mn b/d to 32.5mn b/d.

Azerbaijan, which is not part of OPEC, accepted to reduce the production level by 558,000 b/d in 1H17 on average.

 

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