Azerbaijan Oil and Gas Report - Business Monitor International - Industry Reports

Azerbaijan Oil and Gas Report

Azerbaijan Oil and Gas Report - Business Monitor International - Industry Reports
Azerbaijan Oil and Gas Report
Published Aug 30, 2016
79 pages — Published Aug 30, 2016
Price US$ 1,295.00  |  Buy this Report Now

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In uncontested Azeri waters, several major exploration projects are ongoing. BP is prospecting in the Shafag-Asiman block, having conducted a seismic data acquisition programme in ----. ...SOCAR began exploration drilling at Umid in ----, reporting a ---bcm gas discovery in ---- and beginning small-scale gas and condensates production. The company had been looking towards a standalone development for the field, but following a number of technical issues opted for the joint tender with Babek - which is believed to be connected to Umid. The Umid-Babek tender ended in Q---, but the results have yet to be announced. ...The Umid-Babek tender ended in Q---, but the results have yet to be announced. According to SOCAR, production from Umid will be used to feed domestic consumption, while Babek will be targeting export markets to the west.

...The country boasts substantial, prospective and underexplored acreage, in particular offshore in the South Caspian basin. SOCAR has also announced plans to restart onshore exploration, targeting ultra-deep oil deposits. A shortage of drilling rigs continues to delimit drilling activity in the Caspian Sea. A spate of exploration and appraisal, development and production wells are set to be spud by ----; SOCAR needs to secure additional drilling rigs in the coming quarters if it is to avoid the emergence of a major bottleneck in its upstream. Oil output decreased in ----, according to reports by SOCAR. ...After a temporary stabilisation we expect this trend to continue in ----, despite increased gas reinjection boosting recovery. The gas sector is set for strong growth, driven in large part by development of the Shah Deniz II, which reached FID in ---- and is targeting first gas from ----.

...BMI View: After stabilisation in ----, we forecast renewed downside to Azeri oil production from ---- driven by the country s maturing asset base and a lack of new output brought on stream. Condensates production from the Shah Deniz Phase II will offer temporary upside in ----, but this will be insufficient to sustainably reverse the overall trend of decline. ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Azerbaijan Oil and Gas Report" Aug 30, 2016. Alacra Store. Oct 25, 2016. <>
Business Monitor International - Industry Reports. (2016). Azerbaijan Oil and Gas Report Aug 30, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <>
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