BP's (NYSE:BP) Oil Production in Azerbaijan to Reach 850,000 BPD in 2011

Oil production in Azerbaijan by BP (NYSE:BP) is expected to reach 850,000 barrels a day in 2011, similar to levels of production in 2010, according to BP-Azerbaijan president Rashid Jevanshir.

Jevanshir said, "According to preliminary estimates, production at Azeri, Chirag and Guneshli next year will be 850,000 bpd, almost the same level as in 2010."

Chirag, Azeri and Guneshli are oilfields in the Caspian Sea.

For full year 2010, oil production in the country should reach 42.1 million tons, up from the 40.3 million tons in 2009.

Production in the first nine months of 2010 has increased to $32.2 million tons, up from 31.4 million in the same period last year.