SOCAR reduces oil production in Jan.

Oil&Gas Materials 24 February 2016 20:07 (UTC +04:00)

Baku, Azerbaijan, Feb. 24
By Maksim Tsurkov - Trend:

The State Oil Company of Azerbaijan (SOCAR) produced 647,000 tons of oil from the country's offshore and onshore fields in January 2016 compared to 712,300 tons in January 2015, SOCAR's statement posted on its website said Feb. 24.

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 and Baku-Tbilisi-Ceyhan pipelines.

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, hit 3.52 million tons in January compared to 3.67 million tons in the same period of 2015.

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.