AZERBAIJAN PLANS AMBITIOUS BOOST IN OIL PRODUCTION
The former Soviet republic of Azerbaijan plans to nearly double oil production by 1996 and more than triple current flow early in the next century.
Almost all of the projected increase is to come from Caspian Sea fields slated for development with the help of western firms (OGJ, Jan. 25, p. 46).
Azerineft, Azerbaijan's state oil company, expects oil production to reach 400,000 b/d by 1996 vs. about 226,000 b/d last year, 234,000 b/d in 1991, and 249,000 b/d in 1990. Azerbaijani government officials expect the republic's crude and condensate production to reach 800,000 b/d by 2005.
Most of the gains anticipated during 1996-2005 will come from large fields discovered along the Apsheron Sill east of giant Guneshli (formerly 28th of April) oil field. Guneshli accounts for most of Azerbaijan's current Caspian Sea oil production totaling about 180,000 b/d.
Azerbaijan President Abulfaz El-chibei believes his republic's crude and condensate flow will stop declining this year. Production target for 1993 is 240,000 b/d.
At present, Azerbaijan has difficulty meeting its own fuel needs and must import gas from Iran to satisfy peak winter demand. Even so, it has said it wants to join the Organization of Petroleum Exporting Countries.
Copyright 1993 Oil & Gas Journal. All Rights Reserved.