SOCAR ups oil production in Jan.-Aug.

Oil&Gas Materials 4 September 2012 17:10

Azerbaijan, Baku, Sept. 4 / Trend, E.Ismayilov /

The State Oil Company of Azerbaijan (SOCAR) produced over 4.58 million tons of oil compared to the planned 4.56 million tons on its fields in January-August, SOCAR's Azneft Production Union said today.

SOCAR extracted over 4.38 billion tons of gas on its fields in Jan.-Aug., or 3.2 per cent less than the planned volume.

SOCAR includes the Azneft production association (the companies producing oil and gas on and offshore), the Azerkimya industrial association (chemical enterprises) and Azerigaz industrial association (gas distribution).

SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland. SOCAR is co-owner of the largest Turkish petrochemical complex Petkim.