Azerbaijan will remain an oil and gas exporter, ADB's Asian Energy Oultook up to 2035 reads.
"The country will continue producing much more oil and gas in the projected period than domestic demand," the document said. "The peak level will be reached at 1.4 million barrels of oil per day in 2015 by increasing the production volumes at Azeri- Chirag- Guneshli (ACG) fields. The oil production volumes at ACG will decline from 2020. This will reduce the volumes up to 1.26 million barrels a day by 2035."
ADB specialists believe that gas production will increase.
"Natural gas production will increase by 46.67 percent compared to 2010 - up to 22 billion cubic meters in 2035 by increasing the production volumes at Shah Deniz field. For comparison, in 2010 the figure was 15 billion cubic meters," the forecast said.
According to the State Statistics Committee, Azerbaijan produced 29.1 million tons of oil and gas condensate from January -August 2013 compared to about 29.41 million tons in the same period of 2012. Gas production amounted to 11.7 billion cubic meters (tank gas) in January -August 2013 compared to 11.41 billion cubic meters a year earlier.