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Share Price: 479.35
Bid: 479.25
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Change: -11.45 (-2.33%)
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Open: 481.75
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Azeri oil exports decline 1.5 pct in January-July 2014

Mon, 18th Aug 2014 14:22

BAKU, Aug 18 (Reuters) - Azerbaijan's oil exports fell 1.5percent year-on-year in the first seven months of 2014 due to adecline in oil production at its main fields, where BP has a major interest, a source at the State Customs Committeesaid.

The source said Azerbaijan exported 19.941 million tonnes ofoil, down from 20.229 million in the same seven months lastyear.

Falling output at the main Azeri, Chirag and Guneshli(ACG)oilfields has raised concerns in Baku.

BP and its partner, Azeri state energy firm SOCAR, have tried to calm those fears by saying last year that productionhad stabilised. Total oil output grew last year for the firsttime since 2011.

Azerbaijan's oil and condensate output fell 2.8 percent inJanuary-July 2014, a source at the State Statistics Committeesaid last week, driven by declines at fields operated by BP.

Exports of oil via Russia through the Baku-Novorossiiskpipeline amounted to 593,848 tonnes in the seven months, downfrom 993,170 tonnes.

Exports through the Baku-Supsa pipeline via Georgia rose to2.442 million tonnes from 2.261 million tonnes, while exportsthrough Baku-Tbilisi-Ceyhan via Georgia and Turkey were 16.361million tonnes, down from 16.432 million.

Oil exports shipped by a rail via Georgia rose to 542,521tonnes from 542,342 tonnes.

BP said earlier this year that ACG oil production in 2014might be slightly lower than in 2013 as the company plannedmaintenance work at the Central Azeri and West Azeri platforms,halting operations for a couple of weeks.

It did not say when the work would start.

Output from ACG fell to an average of 656,000 barrels perday (bpd) in the first half of 2014 from 672,000 bpd in the sameperiod last year, although production in the first half wasstill higher than the average of 645,800 bpd produced in thefirst three months of the year, BP-Azerbaijan said in astatement last week. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;editing by Jane Baird)

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