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Share Price: 523.30
Bid: 523.60
Ask: 523.80
Change: -1.50 (-0.29%)
Spread: 0.20 (0.038%)
Open: 524.80
High: 527.80
Low: 523.10
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UPDATE 1-Azerbaijan's oil output fell 0.8 pct in 2015

Tue, 19th Jan 2016 15:24

(Adds more figures, background)

BAKU, Jan 19 (Reuters) - Azerbaijan's crude oil andcondensate production in 2015 fell by 0.8 percent year-on-yearto 41.7 million tonnes, a source at the State StatisticsCommittee said on Tuesday, after planned maintenance suspendedoutput at various oilfields.

Azerbaijan's natural gas production rose to 29.7 billioncubic metres (bcm) last year, from 29.4 bcm a year earlier, thesource said.

Falling output at the Azeri, Chirag and Guneshli (ACG)oilfields operated by oil major BP led the overall drop,said the source, who declined to be identified because he is notauthorised to talk to the media.

Oil production rose to 14.2 million tonnes in the first fourmonths of 2015 from 13.6 million a year earlier.

Output started to decline in May, however, as BP suspendedoperations at one platform in the Caspian Sea, West Azeri, for22 days of planned maintenance.

BP suspended operations at another platform, Chirag, on Nov.10. Production resumed after the planned maintenance on Dec. 11.

Azerbaijan planned to produce 40.7 million tonnes of oil and30.2 bcm of gas in 2015. (Reporting by Nailia Bagirova; Writing by Margarita Antidze;Editing by Susan Thomas)

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