In January-February of this year, the total value of production in the mining industry in Azerbaijan amounted to AZN 6,512.6 million, which is a 3.5% decrease compared to the corresponding period of the previous year, APA-Economics reports citing the monthly report of the State Statistical Committee.
According to the report, of the total figure mentioned, AZN 6,031.1 million accounted for the production of crude oil and natural gas, which is a 3.7% decrease in an annnual comparison.
Oil and gas production
According to the information, the main product of the sector, commercial oil production, amounted to 4,467.6 million tons, and commercial natural gas production reached 6,309.6 billion cubic meters.
"Commercial oil production has decreased by 6.2% compared to the corresponding month of the previous year, while commercial gas production has increased by 0.1%," the report notes.
The report also mentions that during the reporting period, a total of 4,478.7 thousand tons of oil (a 6.2% decrease) and 8,005.6 million cubic meters of gas (a 2.9% decrease) were produced in Azerbaijan.
Oil and gas sector investments
In the first two months of this year, 618.6 million manats were allocated to Azerbaijan's oil and gas sector. Compared to the corresponding period of the previous year, the volume of investments directed to the oil and gas sector decreased by 31.6%.
Oil exports
In January and February, 6,048.7 thousand tons of oil were transported through oil pipelines in Azerbaijan, which is a 4.1% decrease in an annual comparison.
During the reporting period, 73.2% of the oil transportation was carried out through the Baku-Tbilisi-Ceyhan (BTC) oil export pipeline, with 4,429.5 thousand tons of oil transported through this pipeline, which is a 6.3% decrease in an annual comparison.
During the reporting period, 83.9% (or 3,718 thousand tons) of the oil transported through the BTC pipeline was produced in Azerbaijan (a 4.2% decrease), while 16.1% or 711.5 thousand tons was oil coming from Turkmenistan and Kazakhstan (a 15.6% decrease).
Gas delivery to world markets
In January and February of this year, 7,108.3 million cubic meters of gas were transported through main gas pipelines in Azerbaijan, marking a 3.2% decrease compared to the corresponding period of the previous year.
48% of the gas transportation through main pipelines was carried out via the Baku-Tbilisi-Erzurum South Caucasus pipeline. This pipeline is used for the export of gas produced from the Shah Deniz gas-condensate field.
Thus, during the reporting period, 3,412.9 million cubic meters of gas were transmitted through this pipeline, showing a 4.8% decrease.
