BAKU, Azerbaijan, Apr.16
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR has increased the volume of gas output in the first three months of 2021 year-on-year, Trend reports.
The company has produced over 1.9 million tons of oil and more than 1.9 billion cubic meters of gas in the first quarter of 2021, according to SOCAR’s report.
SOCAR’s oil and gas production in Q1 2020 stood at 1.9 million tons and 1.8 billion cubic meters, respectively.
The company’s drilling operations neared 7,000 meters.
In general, around 8.8 million tons of oil and over 10.4 billion cubic meters of gas were produced in Azerbaijan from January through March 2021.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR.
SOCAR conducts various petroleum activities in countries such as Georgia, Turkey, Romania, Switzerland, Germany and Ukraine, including trading activities, mainly in Switzerland, Singapore and Nigeria.
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