SOCAR’s oil production down
Baku, Azerbaijan, Apr. 17
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR produced 1.85 million tons of oil from offshore and onshore fields in January-March 2017 as compared to 1.9 million tons in the same period of 2016, SOCAR said in a message posted on its website Apr. 17.
SOCAR produces oil from offshore and onshore fields of Azerbaijan using its own funds. As part of this oil is processed at refineries in Baku, while the other part is exported via the Baku-Novorossiysk and Baku-Tbilisi-Ceyhan pipelines.
Moreover, SOCAR produces light oil from Azeri-Chirag-Gunashli 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 9.46 million tons in January-March 2017, as compared to 10.51 million tons in the same period of 2016.
In 2016, SOCAR produced 7.52 million tons of oil from offshore and onshore fields, as compared to 8.16 million tons in 2015. In total, oil production stood at 41.03 million tons in Azerbaijan in 2016, as compared to 41.58 million tons in 2015.
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