SOCAR’s oil output down
Baku, Azerbaijan, Jan. 16
By Maksim Tsurkov – Trend:
Azerbaijan’s state oil company SOCAR produced 7.43 million tons of oil from offshore and onshore fields in 2017 as compared to 7.52 million tons in 2016, said a message posted on SOCAR’s website.
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 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 38.69 million tons in 2017, as compared to 41.03 million tons in 2016.
SOCAR includes such production unions as Azneft (the enterprises producing oil and gas onshore and offshore), Azerikimya (the chemical enterprises) and Azerigas (distributor of gas produced in the country), as well as oil and gas processing plants, service companies and the facilities involved in geophysical and drilling operations.