BP: Azerbaijan’s oil production amounts to 931,000 bpd in 2011

Azerbaijan, Baku, June 18 / Trend A.Badalova / Oil production in Azerbaijan amounted to 931,000 barrels per day in 2011, BP Statistical Review of World Energy 2012 says. This figure is 10.3 percent less than production in 2010. Azerbaijan's share in global oil production was 1.1 percent in 2011. According to BP estimates, oil consumption in Azerbaijan increased by 11.9 percent to 80,000 barrels per day in 2011. BP remained stable its estimation on the country's proved oil reserves - at 7 billion barrels, which amounts 0.4 percent share in global proved oil reserves. The main volume of Azerbaijan's oil production accounts for the Azeri-Chirag-Guneshli fields. Azeri Light oil with a sulfur content of 0.15 percent (35 degrees API) is produced here. ACG participating interests are: BP (operator - 35.83 percent), Chevron (11.27 percent), SOCAR (10 percent), INPEX (10.96 percent), Statoil (8.56 percent), Exxon (8 percent), TPAO (6.75 percent), ITOCHU (4.3 percent), Hess (2.7 percent), AzACG (11.6 percent). Do you have any feedback? Contact our journalist at agency@trend.az