SOCAR Significantly Increases Gas Production on Own Fields

Oil&Gas Materials 26 November 2008 22:34 (UTC +04:00)

Azerbaijan, Baku, 26 November /corr. Trend E.Ismaylov / Daily oil production of SOCAR (State Oil company of Azerbaijan) is nearly 23,600 tons, SOCAR said on 26 November.

The daily gas production of SOCAR makes up 21.4mln cu.m, the same source said.

According to the information placed on the Internet site of SOCAR, in January - September, SOCAR, operating companies (OC) and joint ventures (JV) produced approximately 47.8mln barrels of oil (nearly 6.5mln tons) on off-shore and onshore fields of the country.

According to the forecasts, this year SOCAR, JV and OC will produce 64mln barrels (8.7mln tons) of oil. Of this volume, 55mln barrels (7.4mln tons) will fall on Oil and Gas Production Unit of SOCAR, and 9mln barrels (1.3miln tons) on JV and OC.

In January - September, the gas production of SOCAR, JV and OC was about 5.8bln cu.m, which is more than 1.5bln cu.m more than 2007.

According to the forecast of Oil and Gas Production Unit of SOCAR, in 2008 the company will produce 7.850bln cu.m of gas, JV and OC - 150mln cu.m of gas.

In Azerbaijan there are 57 oil and gas fields, with 18 offshore and rest - onshore. The staff of SOCAR is 63,000 people.

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