SOCAR’s production union overfulfills production plan

Oil&Gas Materials 26 January 2022 14:43 (UTC +04:00)
SOCAR’s production union overfulfills production plan

BAKU, Azerbaijan, Jan.26

By Leman Zeynalova – Trend:

Azneft production union of Azerbaijan’s state oil company SOCAR has overfulfilled its oil production plan by 6 percent in 2021, Trend reports with reference to the production union.

Reportedly, Azneft’s gas production was implemented by 103 percent.

Azneft is currently engaged in a total of 45 (25 onshore and 20 offshore) fields in Azerbaijan. Fourteen fields are currently under development by Azneft.

The total volume of crude oil production in Azerbaijan stood at 34.6 million tons in 2021, as compared to 34.5 million tons. A slight increase in the country’s oil production was achieved as a result of easing the oil production quotas under the OPEC+ agreement. The country’s gas production rose by 18.1 percent in 2021 as compared to 2020 and stood at 43.9 billion cubic meters.


Follow the author on Twitter: @Lyaman_Zeyn