SOCAR to revise oil and gas production forecasts in Azerbaijan for 2011
Azerbaijan, Baku, April 6 / Trend, E. Ismayilov /
The State Oil Company of the Azerbaijan Republic (SOCAR) intends to revise oil and gas production forecasts in Azerbaijan in mid-2011, SOCAR head Rovnag Abdullayev said today.
He added that the forecast volume of oil and gas production in Azerbaijan in 2011 will remain at last year's level.
"We expect last year's production volumes, but thsi will be specified in mid-2011," Abdullayev said.
Azerbaijan produced 50.83 million tons of crude oil and condensate, which is 0.9 percent more than in 2009. Most of the oil production fell to the Azerbaijan International Operating Company, which produced 43.61 million tons of crude oil and condensate from the Azeri-Chirag-Guneshli bloc of offshore fields and the Shah Deniz gas field. The figure is 1.1 percent more than the number for 2009.
Gas production reached 26.23 billion cubic meters in Azerbaijan, which is 11.2 percent more than in 2009. Of the figure, 16.67 billion cubic meters fell to the commercial gas, a 2.1 percent increase from 2009. More than 6.3 billion cubic meters of the commercial gas accounted for the public sector, and about 10.33 billion accounted for gas produced in conjunction with foreign companies.