BAKU, Azerbaijan, Feb.15
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR produced 7.9 million tons of oil in 2021, as compared to the forecasted 7.5 million tons, Trend reports with reference to Azerbaijan’s energy ministry.
The company’s oil output in 2020 amounted to 7.4 million tons. As such, SOCAR’s year-on-year oil production rose by 6.5 percent.
The country produced a total of 34.6 million tons of oil and condensate in 2021, which is 1.044 million tons or 2.9 percent less than the forecasts. This figure is 33,000 tons more as compared to 2020.
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.
---
Follow the author on Twitter: @Lyaman_Zeyn