Azerbaijan’s draft 2027 budget package forecasts marketable gas production will fall 9.3% to 35.636 billion cubic meters, while oil output will decline 3.6% to 26.562 million metric tons.
The projections extend through 2030 and represent forward-looking estimates rather than production levels already achieved, Vesti Baku reported.
Oil Expected to Decline in 2027 and 2028
Oil production is forecast at 26.069 million tons in 2028, down 1.9% from the 2027 projection.
Output could reach 26.633 million tons in 2029 before easing to 26.309 million tons in 2030.
Azerbaijan produced 19.860 million tons of oil, including gas condensate, from January through September 2026. That was 3.9% less than in the same period a year earlier. The plan for all of 2026 is 27.6 million tons.
Total Gas Output Seen Little Changed
Total gas production is forecast at 48.524 billion cubic meters in 2027, 0.2% above the 2026 target, even as marketable gas output is expected to fall to 35.636 billion cubic meters.
In 2028, total production could decline to 45.524 billion cubic meters, with marketable output at 33.155 billion.
The projections for 2029 are 47.292 billion cubic meters of total production and 35.284 billion of marketable gas. For 2030, the figures are 48.064 billion and 36.563 billion cubic meters, respectively.
Azerbaijan produced 37.521 billion cubic meters of gas in the first nine months of 2026, including 28.581 billion cubic meters of marketable gas. The figures were down 0.7% and 1.6%, respectively, from a year earlier.