Azerbaijan expects domestic oil output to dip below 30.3 mln tonnes/year by 2027

BAKU. Jan 9 (Interfax) - The Azerbaijani government expects domestic oil production of 30.27 million tonnes in 2026, which would be 3% below the forecast figure for 2023.

According to the government's respective forecasts for 2023-2026, which Interfax has reviewed, domestic oil production should total around 31.222 million tonnes in 2023, nearly 30.65 million tonnes in 2024, about 30.695 million tonnes in 2025, and around 30.274 million tonnes in 2026.

As reported, according to the State Statistics Committee, Azerbaijan's production of oil with gas condensate totaled nearly 29.912 million tonnes in January-November 2022, a decline of 5.4% year-on-year. The overall forecast is 32.7 million tonnes for 2022.

Azerbaijan raised output of oil with gas condensate 0.1% year-on-year to nearly 34.581 million tonnes in 2021.