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Azerbaijan ups gas production in 2020

Oil&Gas Materials 19 January 2021 12:58
Azerbaijan ups gas production in 2020

BAKU, Azerbaijan, Jan.19

By Fidan Babayeva - Trend:

Gas production in Azerbaijan grew by 4 percent in 2020 compared to 2019, Trend reports referring to the State Oil Company (SOCAR).

According to the company, gas production in the country in the reporting year made up 37.1 billion cubic meters.

In 2020, about 56,000 meters of drilling work were conducted by SOCAR. The company produced 7.3 billion cubic meters of natural gas on the operated fields by its own or as the main participant.

During the year, 12 billion cubic meters of natural gas have been consumed in the country.

“Azerbaijan's natural gas exports increased by 16 percent compared to 2019 and reached 13.4 billion cubic meters. In 2020, natural gas from here was exported to Turkey and Georgia, and on the year’s last day, for the first time direct gas exports to the European market started,” said the company.

As reported, SOCAR’s Natural Gas Processing Plant’s output was 3.8 billion cubic meters in 2020. The volume of gas processing grew by more than 17 percent, amidst a relative decrease in oil refining due to the lower demand for oil products.

In 2019, SOCAR produced 7.7 million tons of oil and 6.8 billion cubic meters of gas, thereby increasing the indicators.

Compared to 2018, oil production by the company increased by 140,800 tons, and gas production - by 293 million cubic meters of gas.

The company exported 1.4 million tons of oil and 1.6 billion cubic meters of gas in 2019. In 2019, the company's revenues from oil and gas exports amounted to $904.6 million.

SOCAR's revenues from the export of oil, gas, and oil products in 2019 amounted to over $1.28 billion.

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