Chapter 1. Introduction
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne1, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund
Language:
English
Keywords:
ISI; SI; natural resource boom; government; natural resource; deficit; windfall oil revenue; oil revenue management; oil wealth; oil deficit; Oil; gas and mining taxes; Natural resources; Oil prices; Sub-Saharan Africa; Africa; Asia and Pacific; revenue windfall; windfall to the government; oil sector

Abstract

Azerbaijan has a substantial endowment of oil and gas deposits, estimated to be the third largest in the Caspian region. Oil production in Azerbaijan is projected to increase sharply starting in 2005, and to reach a peak in 2009 of 1.3 million barrels per day, or four times current production. Gas production is expected to increase in 2006 following the development of the Shah Deniz gas field and construction of the related gas pipeline, reaching an annual peak of 20 billion cubic meters (bcm) in 2010. Even under conservative assumptions about international oil and gas prices, the expected revenue windfall to the government of Azerbaijan over the next 20 years is substantial. However, given the known reserves and production profile, oil and gas revenues are expected to peak at the turn of the decade and decline gradually thereafter, and to return to current levels by 2024.

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Cover Managing Oil Wealth
Managing Oil Wealth
The Case of Azerbaijan
Author: Mr. Niko A Hobdari, Ms. Chonira E Aturupane, Mr. Eric Le Borgne, Mr. Koba Gvenetadze, Mr. John Wakeman-Linn, and Mr. Stephan Danninger
ISBN:
9781589063082
Publication Date:
21 Apr 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063082.058
Pages:
50

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