Volumes of oil, gas production in Azerbaijan in 2015 made public

Economy Materials 4 June 2015 15:14 (UTC +04:00)

Baku, Azerbaijan, June 4

By Maksim Tsurkov - Trend:

It is expected to produce about 40.7 million metric tons of oil in Azerbaijan in 2015, Vice-president on oil-gas production and transportation of SOCAR (State Oil Company of Azerbaijan) Rahman Gurbanov said during the 22nd international Caspian Oil and Gas Exhibition and Conference.

Gas production in 2015 is forecasted at 30.2 billion cubic meters.

At the same time, in 2014, oil production in Azerbaijan amounted to 42 million metric tons, gas - 29.6 billion cubic meters of gas, he said.

"In 2015, the SOCAR oil production is projected at 8.3 million metric tons, gas - 6.5 billion cubic meters," said Gurbanov. "Some 6.5 million metric tons will go for processing, and 1.7 million metric tons for export of the total amount of oil that will be produced in 2015."

He went on to add that some 4.85 billion cubic meters of gas will be transferred to Azerenergy and 1.2 billion cubic meters of gas will be exported to Georgia of the total volume of gas to be produced in 2015 by SOCAR.

SOCAR includes production associations Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical industry enterprises) and Azerigaz.

The company also has a number of processing enterprises, service enterprises, and institutions involved in geophysical and drilling operations.

SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.

SOCAR is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.

Moreover, currently, the company is carrying out work as part of ensuring the supply of Azerbaijani gas to Europe. In this regard, work is underway within the second phase of development of the Shah Deniz gas and condensate field, to expand the South Caucasus Pipeline, and projects are being developed to construct the Trans-Anatolian Natural Gas Pipeline and the Trans-Adriatic Pipeline.

Edited by CN


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