AZERBAIJAN'S OIL FLOW SEEN STABILIZING
Azerbaijan's oil production shows signs of stabilizing.
State oil company Azerineft estimated total production of crude and condensate in the former Soviet republic in 1992 to be at least 226,000 b/d. That indicates a slowing in the rate of decline in light of production of 234,000 b/d in 1991 and 249,000 b/d in 1990. Further, oil production in Azerbaijan rose sharply in October 1992 from the previous month and was 95.7% of the October 1991 level.
Baku reports predict further gains soon because of technical and financial assistance from British Petroleum Co. plc and Amoco Corp. in developing Caspian Sea fields.
Azerbaijan oil production barely covers domestic needs at present. But with prospects of big production jumps during the late 1990s, the member of the Commonwealth of Independent States has expressed a desire to join the Organization of Petroleum Exporting Countries.
Caspian fields currently produce about 180,000 b/d of oil, most of that from giant Guneshli, formerly 28th of April field, east of the Apsheron Peninsula.
Peak Caspian production was 258,000 b/d in 1970, mostly from the rapidly declining Neftianye Kamni (Oil Rocks) field. Azerbaijan's total crude and condensate output averaged 430,000 b/d in 1965-229,000 b/d offshore-and peaked at about 445,000 b/d in 1940, when all production was offshore.
Azerbaijan's onshore oil flow has plummeted to about 45,000 b/d, continuing a slide that began in the 1960s.
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