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SOCAR Oil Production on level with Last Year

Oil&Gas Materials 5 September 2006 12:17 (UTC +04:00)

Over the period of January-August 2006, the Oil and Gas Production Department of the Production Unit Azneft of the State Oil Company of Azerbaijan (SOCAR) has produced 5,063,620 tons of oil, which is less than the same period of last year by 0.8%, Trend reports. The largest volume of oil was produced by OGPU 28 May, which develops the field Gunashli. Within 8 months, oil production in this field was reportedly 3,555,414 tons of oil which is less than last year by 3.2 percent.

The least volume of oil has been monitored in the field Muradkhanli. Over January-August, 18,085 tons of oil was produced in this field, which is less by 11.4% as compared with last year.

At present, efforts in the production of the private oil of SOCAR are directed mainly towards retaining the existing volumes of reserves.

The summary table is of the actual and planned oil produced (tons) by Azneft over the period of January-August 2006:


Oil and Gas Production Department

January-August fact

% in regard to January-August 2005

28

May

3555414.000

96,8

Neft Dashlari

586122.000

107,2

Named after Narimanov

229560.000

114,2

,2

Balakhanineft

141135.000

98,0

Gum Adasi

108689.000

98,1

Apsheronneft

114280.000

103,2

Bibi-Heybatneft

91822.000

105,7

Surakhanineft

44437.000

98,0

Named after A.Amirov

54376.000

54376.000

96,1

Bulla Deniz

42614.000

103,4

Named after Tagiyev

48078.000

48078.000

114,6

Siyazanneft

29008.000

99,5

Muradkhanli

18085.000

88,6

Total

5063620.000

99,2

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