During 2015 proved oil resources of SOCAR increased by 3% and totaled 74.34 million tons against 72.05 million tons in 2014.
SOCAR reported that by January 1, 2016 proved gas resources of SOCAR totaled 55 bcm against 54.96 bcm in 2015.
The volume of proved oil and gas resources of SOCAR is based on the resources of four main fields – Guneshli, Neft Dashlary, Bulla Deniz and Umid offshore fields.
In 2015 the volume of oil extraction by SOCAR totaled 8.16 million tons against 8.3 million tons in 2014 and volume of gas extraction totaled 6.87 bcm and 7.01 bcm.
In 2015 the volume of oil refinery by SOCAR totaled 6.48 million tons against 6.74 million tons in 2014.—0—
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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