BAKU, Azerbaijan, April 19. Azerbaijan’s state oil company SOCAR has drilled over 18,000 meters in the first quarter of 2022, 2.7 times more than in the same period in 2021, Trend reports with reference to the company.
During the reporting period, SOCAR produced over 1.9 million tons of oil and more than 1.9 billion cubic meters of gas.
The total volume of oil and gas production in Azerbaijan amounted to 8.3 million tons and 11.8 billion cubic meters, respectively. Gas production rose by 13.5 percent year-on-year.
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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