Oil production in Azerbaijan up 51% year on year

NTBKtrader · Intermediate Crude Joined: Oct 19, 2004 Posts: 591

BAKU. Oil production in Azerbaijan reached 477.2 thousand tonnes in Azerbaijan in the I half of 2006, which is 51.3% more than in 1H 2005, Azerabaijani state statistics committee said.

Out of the total volume of oil production 3 million 906.5 thousand tonnes were produced by the SOCAR (2.1% less), 10 million 570.7 thousand tonnes by the private sector (growth by 89.5%.)

http://eng.gazeta.kz/art.asp?aid=78110

mekrob · Expert Joined: Dec 09, 2005 Posts: 2663

The North Sea is down 10%. Burghan 10%. Ghawar will soon slip after 7urais peaks. Cantarell is about to collapse. US Gulf is set to peak. But hey, Azerbaijan increased last year. Whew, I was starting to get scared by looking at all of those major producers declining, not the tiny ones increasing.
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I want to put out the fires of Hell, and burn down the rewards of Paradise. They block the way to God. I do not want to worship from fear of punishment or for the promise of reward, but simply for the love of God. - Rabia

FireJack · Heavy Crude Joined: Mar 16, 2005 Posts: 449

Checked the cia factbook and Azerbaijan is apparently a former soviet state, so increasing thier oil production is nothing major.

Of course like most former soviet countries corruption is rife so all the extra money from oil will benifit few and leave the rest destitude. If something good happens and somehow corruption is kept under control it will be one of the few places where living standards will increase in the near future I bet.

Russian_Cowboy

Doly · Expert Joined: Dec 03, 2004 Posts: 4031

mekrob · Expert Joined: Dec 09, 2005 Posts: 2663

Russian_Cowboy

eastbay

Azerbaijan oil was produced hundreds of years ago by basically scooping it off the ground where it freely flowed. That was VERY low hanging fruit.

As an aside, tribes of ancient Zoroastrians lived there burning the readily available oil as a religious point of focus. Their fire temple ruins are found throughout southern Azerbaijan.
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Everything is Impermanent. Shakyamuni Buddha

NTBKtrader · Intermediate Crude Joined: Oct 19, 2004 Posts: 591

and there we have it Zorastrians discovered oil as well as monotheism.

eastbay

Well, they may have been among the first to USE oil, that's for sure. Heh...
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Everything is Impermanent. Shakyamuni Buddha

pup55 · Expert Joined: May 26, 2004 Posts: 3590

Azerbaijan Production Forecast

I would say that their production is going along a little ahead of schedule, according to Unocal's chart, above.

By 2010, Hubbert will take over. Maybe the speedier production will result in a speedier decline on the other side.

Also, apparently, this is one of the world's nastiest places re: human rights, dictatorship, supression of women, etc. etc.

mekrob · Expert Joined: Dec 09, 2005 Posts: 2663

NTBKtrader · Intermediate Crude Joined: Oct 19, 2004 Posts: 591

I think you are smoking crack if you think human rights will get better 'once the oil is gone'. no offense...

mekrob · Expert Joined: Dec 09, 2005 Posts: 2663

No, I said I hope, not think so. Their money and protection that they get from oil stifles any attempt at growth and reform in their nations (oil producing nations, that is). A decline in oil and thus the money and power that sprouts from it, will decline the power of many of these nation's rulers. Economic chaos causes revolutions, I think we've learned this throughout history, no? True, some will be worse, others the same, and maybe even some will be better. Hopefully, they all will...

And I don't smoke crack in the morning.
_________________
I want to put out the fires of Hell, and burn down the rewards of Paradise. They block the way to God. I do not want to worship from fear of punishment or for the promise of reward, but simply for the love of God. - Rabia

Raminagrobis · Tar Sands Joined: Jul 18, 2005 Posts: 25