Azerbaijan production down in first quarter of 2013

Oil and natural gas production declined in Azerbaijan during the first three months of 2013.

Oil and natural gas production declined in Azerbaijan during the first three months of 2013. Bloomberg reported oil production fell by 4.4 percent to 10.8 million metric tons compared to the same period in 2012, and production of marketable natural gas dropped 4.3 percent to 4.4 billion cubic meters.

The data comes from the State Statistics Committee in Azerbaijan's capital of Baku. The committee did not provide a reason for the declines in energy production, Bloomberg said.

During all of 2012, the country produced 43 million tons of oil. The amount of marketable natural gas produced in the country increased 5.4 percent to 17.2 cubic meters, the article stated. However, the BP Plc-led Caspian field of Axeria Chirag-Guneshli cut production to 32.9 million tons.

Azerbaijan exports gas to Russia, Georgia and Turkey.

APA reported that oil production in the country is expected to reach 43.2 million metric tons this year, with natural gas production hitting 28.8 billion cubic feet.

PennEnergy's research area offers details on Azerbaijan gas markets.

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