The start of both oil and natural gas production on the Absheron gas-condensate field from the current year will make a certain contribution to the development of the economic sector, Minister of Economy Mikayil Jabbarov said during the discussion of the forecasts of the 2024 state budget at today's meeting of the Milli Majlis Committee for Economic Policy, Industries, and Enterprising.
“Despite this, oil production in the medium term is expected to be lower than the production level of 2022. This is related to the decrease in the production of the Azeri-Chirag-Guneshli field block, which has a special weight in oil production. Marketable gas production is expected to peak in 2025. Considering these factors, it is predicted that the GDP on the oil and gas sector will decrease by 1.7% in the next year and by 1.8% on average in 2025 and 2026,” he said.
https://report.az/en/energy/mikayil-jabbarov-marketable-gas-production-is-expected-to-peak-in-2025/