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SOCAR’s oil output slightly down

Oil&Gas Materials 22 February 2017 17:20 (UTC +04:00)

Baku, Azerbaijan, Feb. 22

By Maksim Tsurkov – Trend:

Azerbaijan’s state oil company SOCAR produced 645,100 tons of oil from the country’s onshore and offshore fields in January 2017, as compared to 647,000 tons produced in January 2016, SOCAR said in a message Feb. 22.

SOCAR produces oil from offshore and onshore fields of Azerbaijan using its own funds.

A part of this oil is processed at refineries in Baku, while the other part is exported via the Baku-Novorossiysk and the Baku-Tbilisi-Ceyhan pipelines.

Moreover, SOCAR produces light oil from the Azeri-Chirag-Guneshli block of oil and gas fields jointly with foreign partners.

The total volume of the oil produced at the Azeri-Chirag-Guneshli block and the fields developed independently by SOCAR stood at 3.37 million tons in January 2017, as compared to 3.52 million tons in January 2016.

SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical enterprises) and Azerigas (distributes gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.

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