Naperville, IL -- (SBWIRE) -- 08/13/2013 -- Reportstack, provider of premium market research reports announces the addition of Azerbaijan Oil and Gas Report Q4 2013 market report to its offering
Although output at the key ACG field has largely been stabilised, the recovery in oil production
is on track to be temporary, with gains from the Chirag Oil Project due online by 2014. While new output -
including liquids from the major gas projects - holds upside, our current forecast calls for oil production to
peak by 2019 and trend lower. We continue to be more optimistic in our outlook on gas, although we
highlight that a critical shortage of rigs is slowing exploration and appraisal of existing discoveries. Absent
a strong pipeline of upstream projects, we expect gas output to show only incremental growth or possibly
experience small declines until the start of the Shah Deniz II project from 2018/19. The project will supply
gas to Europe via Turkey, and will mark the beginning of new role for Azerbaijan in Europe's energy mix.
The key developments in Azerbaijan's oil & gas sector are:
? While BP has reportedly stabilised output at the key Azeri-Chirag-Guneshli (ACG) field, we maintain a
largely bearish outlook for oil production given challenges encountered at the field to date. According to
company data, the field - which accounts for nearly 80% of the country's total production - will continue
to perform below expectations over the coming decade.

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Roger Campbell
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Naperville
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United States
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