Azerbaijan’s SOCAR reduces oil production
Baku, Azerbaijan, May 20
By Maksim Tsurkov - Trend:
Azerbaijan's state oil company SOCAR produced 2.52 million tons of oil from the country's offshore and onshore fields in January-April 2016, as compared to 2.76 million tons in the same period in 2015, said SOCAR's website.
SOCAR produces oil from Azerbaijan's offshore and onshore fields with its own funds. One part of this oil is sent to Baku refineries for processing, while the other part is exported via the Baku-Novorossiysk and Baku-Tbilisi-Ceyhan pipelines.
Moreover, the company produces light oil from the Azeri-Chirag-Guneshli block of oil and gas fields jointly with foreign partners.
The total volume of oil produced from this block and from the fields which are developed by SOCAR alone stood at 13.98 million tons in January-April 2016, as compared to 14.23 million tons in the same period in 2015.
SOCAR is the sole producer of oil products in Azerbaijan. It has two oil refineries and filling stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
The company is the co-owner of the largest Turkish petrochemical complex, Petkim, and other assets in Turkey.
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