Oil production in Azerbaijan decreased in January 2012
Oil production decreased 1,0% in Azerbaijan comparing with first month of 2011 and 9,0% comparing with January 2010 since production from the Azeri-Chirag-Guneshli (ACG) averaged 823,100 bpd in 2010, but fell to 757,500 in the first nine months of 2011, informs the Center for Economic & Social Development (CESD).
“Average production from the Azeri-Chirag-Guneshli offshore bloc is around 750,000 barrels of oil per day. Although oil production was temporarily stopped at several platforms to allow for planned maintenance work in 2011, no technical problems occurred last month. The oil production, however, decreased even compare with 2011,” CESD writes in a report.
The Azeri-Chirag-Guneshli bloc is operated by the Azerbaijan International Operating Company, which is a consortium of ten petroleum companies that have signed extraction contracts with Azerbaijan.
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