SOCAR increases oil production in Jan.-July 2014

Oil&Gas Materials 21 August 2014 11:56 (UTC +04:00)

Baku, Azerbaijan, Aug. 21

By Emil Ismayilov - Trend:

The State Oil Company of Azerbaijan (SOCAR) produced about 4.91 million tons of oil at onshore and offshore fields of the country in January-July 2014 compared to 4.85 million tons in the same period of 2013, SOCAR said Aug. 21.

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

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

Around 25.42 million tons were produced in Azerbaijan in January-July compared to 25.72 million tons in the same period last year, according to SOCAR.

Azerbaijan produced 43.48 million tons of oil in 2013 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.