SOCAR Increases Oil Production in January - September 2006

In January to September 2006, the State Oil Company of Azerbaijan (SOCAR), Operating Companies (OC) and Joint Ventures (JV) produced 6,735,700 tons oil from onshore and offshore fields of the Country, which is 12,500 tons more than was produced in 2005.

During this period the oil and gas production units (OGPU) of SOCAR produced a total of 5,887,100 tons of oil, or 9,200 tons (0.2%) less as compared to 2005, the Company told Trend..

Over January-September 2006, foreign companies within the joint ventures (JV) and operating companies (OC) produced 848,600 tons oil, which is 3,400 tons (0.4%) more than was produced in 2005.

According to SOCAR, in 2006, the total gas production in Azerbaijan comprised 4,995.6 million cu.m. or 874.7 million cu.m. (21.2%) more as compared to 2005. The oil and gas production units of SOCAR produced 3,032,72 billion cu.m. of gas, or 194.3 million cu.m. more as compared to 2005. JV and OC produced 83.51 million cu.m. of gas in January - August, or 13 million cu.m. less than in 2005. During this period the Azerbaijani International operating Company (AIOC) produced, from the Azeri-Chirag-Gunashli field, 1,840,92 million cu.m. of associated gas, or 654.9 million cu.m. more as compared to 2005.

There are 57 oil and gas fields in Azerbaijan, including 18 offshore. SOCAR staff consists of 59,170 employees.

A comparative table of oil and gas production in January - September 2006 is as follows