SOCAR’s oil production down
Baku, Azerbaijan, May 19
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR produced 2.46 million tons of oil from offshore and onshore fields in January-April 2017 as compared to 2.52 million tons in the same period of 2016, SOCAR said in a message posted on its website May 19.
SOCAR produces oil from offshore and onshore fields of Azerbaijan using its own funds. Some part of oil is processed at refineries in Baku, while another 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-Gunashli block and the fields developed independently by SOCAR stood at 12.64 million tons in January-April 2017, as compared to 13.98 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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