SOCAR: In 2013 Azerbaijan produced over 43 million tons of oil and 29 billion cubic meters of gas

Photo: SOCAR: In 2013 Azerbaijan produced over 43 million tons of oil and 29 billion cubic meters of gas / Oil&Gas

Baku, Azerbaijan, Dec.28
By Emil Ismayilov - Trend:

In 2013 Azerbaijan produced 43.5 million tons of oil, the head of SOCAR, the State Oil Company of Azerbaijan, Rovnag Abdullayev said on Dec.28 at an event summing up the year of 2013.

SOCAR's head said that within the year the country also produced 29.5 billion cubic meters of gas.

The State Oil Company produced 8.34 million tons of oil and 7.15 billion cubic meters of gas.
Oil is produced independently by SOCAR as well as through joint ventures. In addition, oil and gas production is carried out under the contract on the development of the Azeri-Chirag-Guneshli field block. Gas and condensate are produced within the Shah Deniz field development project. In both contracts SOCAR operates within a consortium with foreign companies.

The contract for development of Azeri-Chirag-Guneshli large offshore field was signed in 1994. Shares are distributed as follows: BP (operator in Azeri-Chirag-Guneshli) - 35.78 per cent, Chevron - 11.27 per cent, Inpex - 10.96 per cent, AzACG - 11.65 per cent, Statoil - 8.56 per cent, Exxon - 8 per cent, TPAO - 6.75 per cent, Itochu - 4.3 per cent and ONGC - 2.72 per cent.

The contract for the development of the offshore Shah Deniz field was signed on June 4, 1996.

Participants to the agreement are: BP (operator) - 28.8 percent, Statoil - 15.5 percent, NICO - 10 percent, Total - 10 percent, Lukoil - 10 percent, TPAO - 9 percent and SOCAR - 16.7 percent.

Translated by M.L.

Editedby C.N.

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