SOCAR reduces oil output

Oil&Gas Materials 4 January 2016 14:27 (UTC +04:00)

Baku, Azerbaijan, Jan. 4

By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) produced 7.58 million tons of oil from the country's offshore and onshore fields in January-November 2015, compared to 7.7 million tons in the same period of 2014, said the company on its website Jan. 4.

SOCAR produces oil from offshore and onshore fields of Azerbaijan with help of its own funds. Some oil is processed at Baku's refineries, while the other part is exported via the Baku-Novorossiysk pipeline.

The company produced 8.32 million tons of oil in 2014 compared to 8.31 million tons in 2013.

Moreover, SOCAR produces light oil from Azeri-Chirag-Guneshli block of oil and gas fields jointly with foreign partners.

The total volume of oil produced at this block and the fields developed independently by SOCAR, stood at 38.23 million tons in January-November 2015 compared to 38.55 million tons in the same period in 2014.

In total, some 42.4 million tons of oil were produced in Azerbaijan in 2014 compared to 43.5 million tons in 2013.

SOCAR includes such production associations as Azneft (the enterprises producing oil and gas onshore and offshore), Azerkimya (the chemical enterprises) and Azerigas (distributes gas produced in the country), as well as oil and gas processing plants, service companies, and the facilities involved in geophysical and drilling operations.