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SOCAR slightly decreases oil production in Jan.-Feb.

Oil&Gas Materials 3 April 2015 16:35 (UTC +04:00)

Baku, Azerbaijan, Apr. 3

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) produced 1.35 million metric tons of oil at the country's offshore and onshore fields in Jan.-Feb. 2015 or by 0.9 percent (1.37 million metric tons) less than in the same period of 2014, SOCAR said April 3.

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

Over 8.32 million metric tons of oil was produced in Azerbaijan in 2014 compared to 8.31 million metric tons in 2013.

Some 6.96 million metric tons of oil was produced in Azerbaijan in Jan.-Feb. 2015 or by 4.1 percent (3.93 million metric tons) less than in the same period of 2014.

Over 42.4 million metric tons of oil was produced in Azerbaijan in 2014 compared to 43.5 million metric tons in 2013.

SOCAR includes Azneft (companies producing oil and gas offshore and onshore), Azerkimya (chemical industry) and Azerigas (production associations).

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

Edited by CN

Follow the author on Twitter: @MaksimTsurkov

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