Review of oil and gas operations in Azerbaijan (January-February 2014)

1. FEC

а) Oil and Gas Production

In January-February 2015, Azerbaijan produced 6.95 million metric tons of oil and gas condensate, which is 0.8 percent more than in the same period of 2014, the report of the State Statistics Committee of Azerbaijan for January-February 2015 said.

In 2014, Azerbaijan produced 41.9 million metric tons of oil and gas condensate against 43.1 million metric tons in 2013.

The main volumes of oil and gas account for Azeri-Chirag-Guneshli block oil and gas fields and Shah Deniz gas condensate field, which are developed jointly with foreign partners.

The report said that the production of sales gas in the country in January and February amounted to 3.38 billion cubic meters (4.77 billion in total was extracted), which is up to 10.5 percent more than in 2014.

Sales gas production in the country in 2014 amounted to 18.7 billion cubic meters against 17.9 billion cubic meters in 2013.

The State Oil Company of Azerbaijan (SOCAR) produced 1.35 million metric tons of oil at the country's offshore and onshore fields in Jan.-Feb. 2015 or by 0.9 percent (1.37 million metric tons) less than in the same period of 2014, SOCAR said.

The State Oil Company of Azerbaijan (SOCAR) produced 1.09 billion cubic meters of gas in January-February 2015 or by 17.2 percent (1.32 billion cubic meters) less than in the same period of 2014.

The State Oil Company of Azerbaijan (excluding the joint enterprises and operating companies) carried out drilling work in the volume of 14,155 meters in January-February 2015, compared to 21,802 meters in January-February 2014, SOCAR said.

This is while the development drilling accounted for 13,555 meters of the total volume of drilling work carried out by SOCAR in January-February 2015, while the exploration drilling accounted for the remaining 600 meters.

b) Processing

Azerbaijan produced 199,400 metric tons of gasoline in January-February 2015, which is 0.7 percent more than in the same period of 2014, the country's State Statistics Committee said in its report as of January-February 2015.

Currently, the State Oil Company of Azerbaijan (SOCAR) is modernizing its processing facilities, as the demand for fuel has increased in the country.

Azerbaijan produced 829,800 metric tons of oil products in January-February 2015 compared to 751,000 metric tons in the same period of 2014.

Summary table of production of oil products in Azerbaijan:

Production of oil products

Jan.-Feb. 2015 (thousand metric tons)

Compared to Jan.-Feb. 2014 (%)

Gasoline

199,4

100,7

Naphtha

20,6

136,4

Kerosene

106,6

92,1

Diesel fuel

480,9

118,3

Lubricants

2,6

34,2

Oil bitumen

19,7

46,6

SOCAR (State Oil Company of Azerbaijan) starts work to improve the production capacity of the Baku oil refinery (refinery) named after Heydar Aliyev.

The reconstruction of oil refineries is held due to the acceleration of measures to introduce the standard Euro-5 in Azerbaijan.

The catalytic cracking units are planned to be upgraded.

"In particular, Italian and US companies have begun design work to increase the performance of the catalytic cracking No.21 to 7.5 million metric tons per year and more efficient use of internal heat, as well as to increase the productivity of the catalytic cracking unit No.55 to 2.5 million metric tons a year," the statement said.

The project also envisages the construction of facilities for cleaning the equipment from sulfur compounds.

The refinery modernization will increase its capacity from 6 to 8 million metric tons per year. Also, the gasoline production capacity will be increased to 3 million metric tons per year.

The project is planned to be completed by late 2018-early 2019.

2. Chemical complex

Azerbaijan produced 16,500 metric tons of polyethylene in January-February 2015, which is 9.1 percent more than in the same period of 2014, the Azerbaijani State Statistics Committee said in its report as of January-February 2015.

The country produced 32.2 metric tons of iodine in January-February 2015, or 15 percent more than in the same period of 2014.

Around 1,250 metric tons of isopropyl alcohol were produced in the country in January-February, which is 29.6 percent more than in the same period of 2014, the report said.

Some 8,590 metric tons of barium sulfate were produced in Azerbaijan during the reporting period, which is 44.7 percent more than last year.

However, Azerbaijan saw decrease in the production of other major types of chemical products in January-February 2015.

The table below shows the production volume of major types of chemical products:

Products

January-February 2015

Compared to January-February 2014 (%)

Barium sulfate (1,000 metric tons)

8,59

144,7

Polyethylene (1,000 metric tons)

16,5

109,1

Propylene (1,000 metric tons)

8,8

98,4

Isopropyl alcohol (1,000 metric tons)

1 253,6

129,6

Paint products (metric tons)

431,5

97

Iodine (metric tons)

32,2

115

The country produced 4,070 metric tons of solid polyethylene pipes, tubes and hoses, which is 88.1 percent more than in the same period of 2014.

3. Electricity

­

The volume of electricity generation in Azerbaijan was 4.28 billion kilowatt hours in January-February 2015, which is 0.9 percent more than in the same period of 2014, the country's State Statistical Committee said in its report on January-February. 2015.

Marketable electricity accounted for 4.09 billion kilowatt hours of the total volume of electricity produced during the reporting period, which is 1.2 percent more than in the same period on 2014.

Thermal power plants accounted for 3.94 billion kilowatt hours of the total volume of marketable electricity generated in January-February, which is 0.8 percent more than in the same period of 2014.

Azerbaijan's hydro power plants generated 142.2 million kilowatt hours of electricity during the reporting period, which is 9.5 percent more than in the same period of 2014.

Moreover, wind power generation facilities generated 1.8 million kilowatt hours of electricity in January-February 2015.

The generation capacity of Azerbaijan's power supply system has increased by 30 percent over the last five years. Currently, its capacity is 7,105 megawatt. This generates around 24 billion kilowatt hours of electricity and export 2.1 billion kilowatt hours of electricity annually.

Azerbaijani President Ilham Aliyev signed an order on Feb.10 to rename Bakielektrikshebeke JSC (electricity distribution in Baku) to Azerishig JSC.

By purchasing and selling electricity, Azerishig JSC will be engaged in ensuring reliable, safe and effective supply of electricity to consumers, using new technologies, modernization of the technical base and its effective use, as well as other activities aimed at developing this sphere.

Under the order of Azerbaijani president, the Cabinet of Ministers has been instructed to take measures on the following issues:

Transferring the powers of Azerenerji JSC on providing the consumers with electricity to Azerishig JSC within two months;

Transferring the property and equipment for providing the consumers with electricity to Azerishig JSC;

Work out and submit to Azerbaijani president the proposals regarding the state bodies exercising the powers of the general assembly of Azerenerji JSC and Azerishig JSC;

Work out and submit to Azerbaijani president the new draft regulations and projects of structures of Azerenerji JSC and Azerishig JSC, and solve other issues envisaged in this order.

Azerenerji JSC has been instructed to take relevant measures in accordance with this order.

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