Review of oil and gas operations in azerbaijan (January-August 2010)

1. FEC

а) Oil and gas production

Azerbaijan produced 34.25 million tons of crude oil and condensate in January-August, 2.2 percent more than oil and condensate production in January-August 2009, the Azerbaijani State Statistics Committee said.

Most was produced by the Azerbaijan International Operating Company, which produced 28.6 million tons of crude oil and condensate in the Azeri-Chirag-Guneshli block of offshore fields and the Shah Deniz gas field, This was 2.8 percent more than the same period last year.

Gas production totaled 17.63 billion cubic meters in Azerbaijan in January-August, 12.1 percent more than the same period last year. Over 6.9 billion cubic meters of gas was produced by the Azeri-Chirag-Guneshli fields (associated gas) and the Shah Deniz field, 1.4 percent more than in January-August 2009.

Azerbaijan generated about 12, 5 billion kilowatt-hours of electricity in January-August, which was 2.8 percent less than the same period last year.

b) Refinery

About 4.2 million tons of oil products were produced in January-August in Azerbaijan compared to 4 million tons in January- August 2009, SOCAR said.

In August, the largest volume of production fell to diesel fuel - about 1.63 million tons compared to over 1.4 million tons in August last year.

Azerbaijan has two oil refineries with total capacity of 20 million tons a year compared.

Oil production in Azerbaijan in January-August (thousands tons):

Oil product

January-August

2010

January-August

2009

Petrol - total

934,78

960,02

motor petrol

816,51

805,45

straight-line gasoline

118,27

154,57

Diesel fuel

1629,38

1445,76

Kiln black oil

123,54

212,58

Oil bitumen

149,21

159,94

Oil coke

298,19

53,06

Lubricants

51,13

22,67

Liquefied gas

137,23

101,53

Motor fuel DT

45,77

91,67

Total

4164,2

4003,23

b) Realization

Over 2.4 million tons of oil was delivered to the domestic market of Azerbaijan in January-August. It is practically the same figure of January-August last year, the State Statistics Committee said.

Over 680.700 tons of oil products fell to motor petrol. The wholesale cost of 1 ton of A-92 petrol (including delivery and VAT) is 670 manat, A-95 - 736 manat on the domestic market of Azerbaijan. According to the State Statistics Committee, Azpetrol received 321.300 tons of petrol, LUKoil - approximately 104.150 tons, SOCAR Petroleum - 131.400 tons of petrol in January-August.

Over 572,000 tons of diesel fuel was sold in January-August on the domestic market, or 15.4 percent more than in January-August last year. The wholesale cost of 1 ton of diesel fuel (including delivery and VAT) is 485 manat on the domestic market of Azerbaijan. According to the State Statistics Committee, Azpetrol received more than 140,000 tons of diesel fuel, LUKoil - about 63.500 tons. The Caspian Shipping Company has bought 15,000 tons of diesel fuel. About 83,000 tons of diesel fuel during this period was delivered to SOCAR Petroleum.

Azpetrol has 70 filling stations in Azerbaijan, of which 66 - petrol, 4 - gas stations. An oil tank farm with total capacity of 7,000 tons and car park, meeting international standards was commissioned in 1999 to improve fuel quality, ensure uninterrupted operation of filling stations and improve the quality of customer service. Currently, Azpetrol fleet consists of 110 fuel tankers with capacities ranging from 17 to 42 tons, which provide the company's filling stations with fuel. Azpetrol owns approximately 15 percent of the total number of filling stations in the country. The company's share in the relevant market sector is more than 50 percent.

Roughly 160.500 tons of heating oil was sold in January-August on the domestic market, or 29 percent less than the same period last year. The wholesale cost of 1 ton of fuel oil M-40 (including delivery and VAT) is 100 manat on the domestic market of Azerbaijan.

Roughly 317,000 tons of kerosene was sold, or 31.5 percent more than in January-August 2009. The wholesale cost of 1 ton of kerosene (including delivery and VAT) is 307 manat on the domestic market of Azerbaijan.

Roughly 141,000 tons of oil bitumen was sold on the domestic market in January-August or five percent less than the same period last year. The wholesale cost of 1 ton of bitumen BN 60/90 (including delivery and VAT) is 160 manat on the domestic market of Azerbaijan.

Roughly 51.500 tons of liquefied gas (LPG) was sold in January-August on the domestic market, or 16.4 percent less than in January-August 2009.

Roughly 510.700 tons of other types of oil products were domestically sold, or 8 percent less than in January-August last year.

2. Chemical complex

SOCAR's Azerkimya PU (production of chemical products) produced 9.4 million cubic meters of nitrogen in January-August. It is 24.1 percent more than the same period of 2009, the Azerbaijani State Statistics Committee.

There was considerable growth for all the main types of chemical products produced by PU in January-July. Decrease was observed only in the production of sulfuric acid.

Production of basic chemical products during January-August:

Products

January-August 2010

January-August 2009 (%)

Nitrogen (mln. cubic meters)

9.4

124.1

polyethylene (thousands tons)

29.1

151.7

propylene (thousands tons)

11.4

114.6

isopropyl alcohol (thousands tons)

7.9

134.9

paintwork material (thousands tons)

3204.1

2.1 times

sulphuric acid (thousands tons)

2.6

28.3

Along with increased production of chemical raw materials, production of plastics and rubber also increased. Thus, about 3,520 tons of solid polyethylene pipes, tubes, hoses were produced in January-August. It is 2.3 times more compared to the same period of last year. About 185 tons of porous polyurethane plates and strips were produced in the republic. It is 25.4 percent less than the same period of last year. Growth is also observed in the production of polymer coatings. About 193.8 tons of this type of product was produced in January-August. It is 20 percent more than the same period of last year.

3. Power engineering

In January-August, Azerbaijan produced about 12.5 billion kilowatt hours of electricity, which is 2.8 percent lower than the same period of last year.

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