In 2013 Azerbaijan extracted 43,500,000 tons of oil, Rovnag Abdullayev, President of State Oil Company of Azerbaijan (SOCAR), said at the event devoted to the annual results.
He said during a year the country also extracted 29,500,000,000 cub.m. of gas.
SOCAR also extracted 8,340,000 tons of oil and 7,150,000,000 cub.m. of gas (this volume includes production by all operation companies, except for Azeri-Chirag-Guneshli (ACG) and Shah-Deniz).
During 2012 Azerbaijan extracted 42,900,000 tons of oil and 26,796,000,000 cub.m. of gas (of which 17,242,000,000 cub.m. is tank gas).—0---
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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