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Uploaded on Wednesday 09 Oct 2013 by GRID-Arendal

Oil production, consumption and export

Year: 2013 Author: GRID-Arendal
Description:
Azerbaijan has been widely recognized as an oil-producing country with the oldest field – the Balahani-Sabunchi-Ramani site – having started operations in 1871. It is only recently, with the development of the offshore Shah Deniz field from 1999 onwards, that the country became a major gas as well as oil exporter in modern times. The country’s oil and gas sector continues its development; recent results from exploration for oil at the Shah Deniz field south of Baku and the Azeri-Chirag-Guneshli (ACG) field east of the capital are said to be positive. Gas production is growing, with the offshore Shah Deniz field providing up to 20 billion cubic meters (bcm) per year for export (WEO 2008). Since 1994, Kazakhstan has seen a large-scale increase in oil and gas output. The country has three main oilfields with growth potential - Tengiz, Karachaganak and Kashagan. Capacity expansion at the Tengiz and Karachaganak fields, the combined reserves being more than 3 billion barrels, has added about 500,000 b/d at peak capacity. When the Kashagan field becomes on stream, the combined production from these three fields is likely to result in Kazakhstan becoming a member of the small group of countries capable of producing more than 2m b/d (WEO 2008).
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