Oil output from Azerbaijan's onshore field to drop in 2023

The Balakhani onshore field is expected to produce 1.59 million barrels of oil in 2023, according to the opinion of the Accounting Chamber on the budget of the State Oil Fund of Azerbaijan (SOFAZ) for 2023, according to Report.

In 2022, the field is expected to produce 1.62 million barrels of oil. The production in 2023 is predicted to be 0.03 million barrels or 1.85% lower than the forecast for this year.

In 2021, this indicator made 1.73 million barrels a drop of 0.14 million barrels or 8.09% from the indicator predicted for the next year.