Oil production declined by 8%, while gas production by 5% in ACG

Oil production declined by 8%, while gas production by 5% in ACG
  • Clock-gray 14:21
  • calendar-gray 21 October 2019

In January-September this year, about 8.8 million tonnes of oil have been extracted in the Azeri-Chirag-Gunashli (ACG) oil and gas block located in the Azerbaijani sector of the Caspian Sea, which is 8.3% less than the same period of the previous year, a reliable source working in the oil and gas sector of Azerbaijan told APA-Economics.

According to him, 6,67 mln. tonnes of oil have been produced in the ACG in the third quarter of this year and it means an annual decrease of 6.1%.

Furthermore, the source said that gas production decreasing by 5.3% amounted to about 8,8 bln. c/m in ACG block in January-September of this year. In the third quarter of the year, the indicator was 3.1 bln. c/m ( a decrease of 1.61%).

Emil Ismayilov

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