SOCAR increases oil production
Baku, Azerbaijan, Oct.24
By Emil Ismayilov - Trend:
The State Oil Company of Azerbaijan (SOCAR) produced 6.3 million metric tons of oil from the country's offshore and onshore fields in Jan.-Sept. 2014, compared to 6.24 million metric tons in the same period of 2013, a message from SOCAR said on Oct.24.
SOCAR develops Azeri-Chirag-Guneshli oil and gas fields' block and Shah Deniz gas condensate field jointly with foreign investors.
SOCAR produced over 8.31 million metric tons of oil in 2013, compared to 8.24 million metric tons in 2012.
In total, 32.53 million metric tons of oil was produced in Azerbaijan in Jan.-Sept., compared to 32.84 million metric tons in the same period of 2013, according to SOCAR.
Some 43.48 million metric tons of oil was produced in Azerbaijan in 2013, compared to 43 million metric tons in 2012.
It is forecasted that 41.2 million metric tons of oil will be produced in Azerbaijan in 2014.
SOCAR includes Azneft, Azerkimya and Azerigas production associations.
Furthermore, the State Oil Company has a number of processing enterprises, service enterprises, institutions involved in geophysical and drilling operations.