SOCAR increases oil production in first half of 2014

Oil&Gas Materials 23 July 2014 16:31 (UTC +04:00)

Baku, Azerbaijan, July 23
By Emil Ismayilov - Trend:

The State Oil Company of Azerbaijan (SOCAR) produced about 4.2 million tonnes of oil at onshore and offshore fields of the country in the first half of the year versus 4.15 million tonnes in the same period of 2013, according to the report of SOCAR.

SOCAR jointly with foreign investors develops "Azeri-Chirag-Guneshli" oil and gas field and "Shah Deniz" gas condensate field.

In 2013, SOCAR produced more than 8.31 million tons of oil compared to 8.24 million tons in 2012.

In total, SOCAR produced 21.7 million tons of oil in January-June compared to 22 million tons in the same period last year, the company`s report said.

In 2013 Azerbaijan produced 43.48 million tons of oil compared to 43 million tons in 2012.

SOCAR, the only producer of oil products in the country includes Azneft Production Association, which runs onshore and offshore oil producing companies, Azerkimya Production Association, and Azerigas Production Association.

Furthermore, the State Oil Company has a number of processing enterprises, service enterprises, institutions involved in geophysical and drilling operations.

Edited by S.I.