Azerbaijan’s SOCAR reduces oil output
Baku, Azerbaijan, Aug. 10
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR produced 4.42 million tons of oil from the country’s onshore and offshore fields in January-July 2016 versus 4.84 million tons in the same period of 2015, SOCAR said in a message Aug. 10.
SOCAR produces oil from offshore and onshore fields of Azerbaijan using its own funds.
A part of this oil is processed at refineries in Baku, while the other part is exported via the Baku-Novorossiysk and the 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 the oil produced at the Azeri-Chirag-Guneshli block and the fields developed independently by SOCAR stood at 24.7 million tons in January-July 2016 compared to 24.5 million tons in the same period 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.
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