Azerneft increases oil production in Azerbaijan

Oil&Gas Materials 17 May 2013 17:55 (UTC +04:00)

Azerbaijan, Baku, 17 May / Trend, E. Ismailov /

In the first quarter of 2013, Azerneft Production Association (PO) of SOCAR (State Oil Company of Azerbaijan) produced over 1.69 million tons of oil, or 1.8 percent more than was originally projected, the head of association Dashgin Iskenderov said in an interview with Respublika newspaper on Friday.

According to him, Azerneft sold about 1.69 million tons of oil in the first quarter, which is 1.9 percent more than the planned figure.

In addition, in January-March, Azerneft produced 1.58 billion cubic meters of gas, which is 2.5 percent more than the projected figure. Gas sales in the first quarter, exceeded 1.45 billion cubic meters, which is 4.8 percent more than the planned figure.

According to an interview, 10 wells have been put into operation since the beginning of the year. During the first quarter, 27 wells were repaired and inferred from the dormant fund.

SOCAR includes the Production Association "Azneft" (companies producing oil and gas onshore and offshore), the Production Association "Azerkimya" (chemical industry) and the Production Association "Azerigas" (gas distribution).

SOCAR participates in large projects such as the development of the Azeri-Chirag-Guneshli oil and gas fields and gas-condensate field Shah Deniz in the Caspian Sea together with foreign partners.