SOCAR reduces oil production
Baku, Azerbaijan, Apr.27
By Maksim Tsurkov - Trend:
The State Oil Company of Azerbaijan produced 2.07 million metric tons of oil from the country's onshore and offshore fields in Jan.-March, 2015, said the message posted on SOCAR's website.
Thus, the company produced 1.8 percent less oil compared to Jan.-March 2014 (2.11 million metric tons), according to the message.
Jointly with foreign investors, SOCAR develops Azeri-Chirag-Guneshli block of oil and gas fields and Shah Deniz gas and condensate field.
In total, SOCAR produced over 8.32 million metric tons of oil in 2014, compared to 8.31 million metric tons in 2013.
Totally, 10.68 million metric tons of oil was produced in Azerbaijan in Q1 of 2015, which is 1.85 percent less than in Jan.-March 2014 (10.88 million metric tons), according to SOCAR.
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 on land and sea), Azerkimya (chemical industry) and Azerigas (gas distribution) production associations.
In addition, the state oil company has a number of processing and service enterprises, as well as institutions involved in geophysical and drilling operations.
Edited by SI
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