AZERBAIJAN

(in Former Soviet Union)

CAPITAL: BAKU

POPULATION: 8 mm

AREA (on): 86,600 km2

OIL PEAK: 2010 (forecast)

SUPPLY

Although Azerbaijan is one of the world’s oldest onshore oil producing countries total oil output has been rising and is forecast to rise further as a number of offshore fields in the Caspian Sea come onstream, developed by foreign companies. Onshore oil now only forms a small and dwindling part of Azerbaijani production.

Similarly gas production began to increase in 2007 and will continue to rise rapidly as the offshore fields are developed, particularly the Shah Deniz gas/condensate field.

 

DEMAND

Growing oil output will stimulate oil consumption growth for transport in Azerbaijan once the global recession draws to an end. However the bulk of the oil is produced for export through the BTC pipeline to Ceyhan in Turkey. Exports are expected to peak around 2015 before slowly declining.

Gas consumption is also increasing for both industrial and residential use with the country becoming a net gas exporter in 2007 with Turkey dominating the market.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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