Lost revenue in Azrei Oil production

The Russian and the CIS mass-media have concentrated their attention on Azeri oil production in 2013.

The Kiev Times writes that the published statistic data about Azeri oil production in 2013 raises many questions. The main theme is why oil production does not rise having stabilized at a rate of 35 million tons annually.

In 2013, Azeri oil production increased by 100,000 tons to 43.1 million tons, including 8.241 million tons extracted by SOCAR (+69,000 tons), and 34.8 million tons extracted at Azeri-Chirag-Gyuneshli block being developed by the Azeri International Operational Company (AIOK). However, this yield of 34.8 million tons includes gas concentrate extracted by the international consortium at the shelf gas deposit Shakh-Deniz. The gas condensate yield was 2.5 million tons there in 2013, and only 32.3 million tons are left for the Azeri-Chirag-Gyuneshli project. In 2012, AIOK extracted 32.9 million tons, i.e. by in 2013 Azeri oil production was by 1.8% less.