Azerbaijan's gas output, exports show significant growth in 2024

Azerbaijan produced approximately 16.9 million tons of oil, including condensate from January to July 2024.

Some 9.7 million tons of that volume accounted for the Azeri-Chirag-Gunashli block of fields, 2.5 million tons (condensate) - the Shah Deniz field, and 0.3 million tons (condensate) - the Absheron field, the Azerbaijani Energy Ministry said, Caliber.Az reports citing the local media.

The State Oil Company of the Azerbaijan Republic (SOCAR) contributed 4.4 million tons of the total production. During this period, around 14.1 million tons of oil, including condensate, were exported, with 12.2 million tons attributed to the consortium and 1.9 million tons to SOCAR.

In the first seven months of the year, 3.7 million tons of oil were processed domestically. In July 2024, daily oil production (including condensate) reached 80,589 tons, consisting of 65,681 tons of crude oil and 14,908 tons of condensate.

As of August 1, 2024, approximately 641.4 million tons of oil (including condensate) and 449.5 billion cubic meters (bcm) of gas have been extracted since the beginning of production at the Azeri-Chirag-Gunashli (ACG) block of fields and Shah Deniz fields.

During the reporting period, the ACG block of fields have produced 594.4 million tons of oil and 224 bcm of gas, while the Shah Deniz field has yielded around 225.5 bcm of gas and approximately 47 million tons of condensate.

To date, about 639.5 million tons of oil (including condensate) and around 160.7 bcm of gas have been exported from these fields.

In the first seven months of this year, Azerbaijan produced approximately 29.5 bcm of natural gas.

This includes 7.7 bcm from the Azeri-Chirag-Gunashli (ACG) block of fields, 16.5 bcm from the Shah Deniz field, 0.9 bcm from the Absheron field, and 4.4 bcm from SOCAR.

The report notes that gas production has increased by about 1.3 bcm compared to the same period last year.

Gas exports during this period totaled approximately 14.7 bcm, representing an increase of about 5.7 per cent compared to the previous year.