Review of oil and gas operations in Azerbaijan (January-November 2015)

1. FEC

а) Oil and Gas Production

Azerbaijan produced 38.32 million tons of oil and gas condensate in Jan.-Nov. 2015, or 0.5 percent less than in the same period in 2014, said the report issued by the State Statistical Committee.

This is while 41.9 million tons of oil and gas condensate were produced in Azerbaijan in 2014, compared to 43.1 million tons in 2013.

The major part of oil production accounts for the Azeri-Chirag-Guneshli block of oil and gas fields and Shah Deniz gas and condensate field which are developed jointly with foreign partners.

The commercial gas production in Azerbaijan totaled 18.07 billion cubic meters in Jan.-Nov. 2015, or 6.3 percent more than in the same period in 2014, according to the State Statistical Committee.

This is while the commercial gas production in the country stood at 18.7 billion cubic meters in 2014, compared to 17.9 billion cubic meters in 2013.

The State Oil Company of Azerbaijan (SOCAR) produced 7.58 million tons of oil from the country's offshore and onshore fields in January-November 2015, compared to 7.7 million tons in the same period of 2014.

SOCAR produced 6.33 billion cubic meters (bcm) of gas in January-November 2015 compared to 6.65 bcm in the same period in 2014.

The drilling work carried out by SOCAR (excluding joint enterprises and operating companies) reached 97,725 meters in Jan.-Nov. 2015 or 17.8 percent less than in the same period of 2014 (118,840 meters), SOCAR said.

Some 96,725 meters of the total volume of drilling work carried out by SOCAR during the reporting period accounted for development drilling, while the remaining 1,000 meters - exploration drilling.

SOCAR has commissioned 63 new wells since early 2015, the statement said.

Some 6.45 billion manat was invested in the oil and gas sector of Azerbaijan in January-November, which is 19 percent more than in the same period of 2014.

EIA forecasts Azerbaijan's oil production to average 0.87 million barrels per day in 2015 and will remain at the same level in 2016.

BP wants to further cooperate with Azerbaijan's state oil company SOCAR on the third phase of development of the 'Shah Deniz' gas field, said the company's vice president for Southern Gas Corridor, Joe Murphy.

'Shah Deniz' has great potential for implementation of the third stage of development.

"We intend to implement the third phase of the 'Shah Deniz' development," he said.

Murphy added that the third phase development will be possible thanks to the use of special technologies and equipment, enabling to extract gas from the high-pressure reservoirs with over 20,000 pound-forces per square inch (over 13,600 atmospheres).

b) Processing

Some 1.12 million tons of gasoline were produced in Azerbaijan in January-November 2015, or 1.6 percent more than in the same period of 2014, the Azerbaijani State Statistics Committee's report as of eleven months of 2015 said.

Currently, SOCAR is modernizing its processing facilities, as the fuel consumption has increased in the country.

Some 5.04 million tons of oil products were produced in Azerbaijan in January-November 2015 compared to over 4.9 million tons in 2014.

In total in 2014, over 5.31 million tons of oil products were produced in Azerbaijan against 5.09 million tons of oil products in 2013.

Below is the summary table of oil products' output in Azerbaijan:

Oil products

Jan.-Nov. 2015 (thousand tons)

Compared to Jan.-Nov. 2014 (%)

Gasoline

1124,5

101,6

Naphtha

184,9

96,1

Kerosene

633,9

97,7

Diesel fuel

2611,4

98,1

Fuel oil

305,3

154,3

Lubricants

24,9

48,8

Oil bitumen

159,2

69,9

SOCAR has signed a contract with the US UOP (formerly known as Universal Oil Products) LLC on licensing the construction of a number of units within the framework of modernization of the Baku Oil Refinery named after Heydar Aliyev.

Modernization of the Heydar Aliyev Baku Oil Refinery will be complete by the end of 2018. The refinery processing capacity will increase from 6 to 7.5 million tons per year after reconstruction.

2. Chemical complex

Azerbaijan produced 92,700 tons of polyethylene in January-November 2015, which is 3 percent more than in the same period of 2014, the Azerbaijani State Statistics Committee said in its report as of January-November 2015.

The country produced 51,000 tons of propylene in January-November 2015, or 0.1 percent more than in the same period of 2014.

Some 55,300 tons of barium sulfate were produced in Azerbaijan during the reporting period, which is 12.7 percent more than in the same period of 2014.

Around 10,750 tons of isopropyl alcohol were produced in the country in January-November, which is 18.4 percent more than in the same period of 2014, the report said.

However, Azerbaijan saw an increase in the production of other major types of chemical products in January-November 2015.

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

Products

Jan.-Nov. 2015

Compared to Jan.-Nov. 2014

(%)

Barium sulfate (1,000 tons)

55,3

112,7

Polyethylene (1,000 tons)

92,7

103

Propylene (1,000 tons)

51

100,1

Isopropyl alcohol (1,000 tons)

10,75

118,4

Paint products (tons)

4,64

135,9

Iodine (tons)

229,7

94,6

The country produced 11,470 tons of solid polyethylene pipes, tubes and hoses, which is 31.1 percent less than in the same period of 2014.

3. Electricity

­Azerbaijan has produced 20.8 billion kilowatt hours of electricity in Jan.-Nov. 2015, which corresponds to the same period in 2014, said a report issued by the country's State Statistical Committee.

Of the total volume of electricity production, 19.8 billion kilowatt hours accounted for commercial electricity, which is the same as in 2014.

This is while of the total volume of commercial electricity produced in Jan.-Nov. 2015, around 18.39 billion kilowatt hours (88.3 percent) accounted for the thermal power plants, or 1.5 percent less than in the same period of 2014.

The hydro power plants in the country have generated 1.44 billion kilowatt hours of commercial electricity in Jan.-Nov. 2015, or 24.2 percent more than in the same period in 2014.

The wind power generating facilities have produced 5.4 million kilowatt hours of electricity in Jan.-Nov. 2015, while the solar energy facilities have generated 3.8 million kilowatt hours of electricity.

Azerbaijan produced 23.11 billion kilowatt hours of electricity in 2014, or 6.7 percent more than in 2013.

Azerenergy JSC is the main producer of electricity in Azerbaijan. It has over 200 substations with a capacity of 500, 330, 220 and 110 kilovolt amperes, as well as eight hydro power plants and 13 thermal power plants.

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 allows to generate around 24 billion kilowatt hours of electricity and export 2.1 billion kilowatt hours of electricity annually.

Today, Azerbaijan is transferring the flow of electricity to Georgia, Iran and Russia.

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