SOCAR slightly increases oil production
Baku, Azerbaijan, Sept.22
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) produced 5.62 million metric tons of oil from onshore and offshore fields of the country in January-August 2014, compared to 5.56 million metric tons in the same period of 2013, SOCAR said on Sept.22.
SOCAR develops the Azeri-Chirag-Guneshli (ACG) block of oil and gas fields and the Shah Deniz gas and condensate field jointly with foreign partners.
In total, SOCAR produced more than 8.31 million metric tons of oil in 2013, compared to 8.24 million metric tons in 2012.
Some 29.1 million metric tons of oil was produced in Azerbaijan in January-August, compared to nearly 29.4 million metric tons in the same period of 2013, according to SOCAR.
Totally, 43.48 million metric tons of oil was produced in Azerbaijan in 2013, compared to 43 million metric tons in 2012.
SOCAR includes Azneft (companies producing oil and gas on land and sea), Azerkimya (chemical industry) and Azerigas (gas distribution) production associations.
In addition, the state oil company has a number of processing and service enterprises, as well as institutions involved in geophysical and drilling activities.