Azneft production association increases oil and gas production in Feb.

Oil&Gas Materials 6 March 2013 20:09 (UTC +04:00)

Azerbaijan, Baku, March 6 / Trend E. Ismayilov /

SOCAR's Azneft Production Association extracted nearly 526,000 tons of oil in February 2013 which is 1.5 per cent more than the planned figure, the association said on Tuesday.

According to the information, it produced about 490,300 cubic meters of gas in February or 2.2 per cent more than the planned figure.

SOCAR includes the Azneft production association (company producing oil and gas onshore and offshore) and the Azkimya production association (chemical industry) and the Azerigaz production association (gas distribution).

SOCAR is the only producer of oil products in the country with two refineries on its balance sheet and also owns petrol stations in Azerbaijan, Georgia, Ukraine and Romania. SOCAR possesses a network of petrol stations in Switzerland.

SOCAR is a co-owner of the largest Turkish petrochemical complex Petkim.