SOCAR announced forecasts of hydrocarbons extraction in Azerbaijan

This year Azerbaijan plans to extract about 41 million tons of oil and over 30 billion cub.m. of gas, said SOCAR Vice President.

This year Azerbaijan plans to extract 40.7 million tons of oil and condensate. The volume of extracted gas is forecast to be 30.2 billion cub.m. (considering volume of technical gas, which is injected into the oil wells to maintain bed pressure), Rakhman Gurbanov, SOCAR Vice President for Production and Transportation, told journalists.

He said in 2014 oil production in Azerbaijan totaled 42 million tons and gas production – 29.6 billion cub.m.

Gurbanov added that in 2015 SOCAR plans to extract 8.3 million tons of oil and 6.5 billion cub.m. of gas.

In 2014 SOCAR extracted 8.3 million tons of oil and 7.2 billion cub.m. of gas.

Of total volume of oil, which the company will extract this year 6.5 million tons will be refined and 1.7 million tons exported.

Of total volume of gas extracted in 2015 by SOCAR 4.85 billion cub.m. will be provided to Azerenerji and 1.2 billion cub.m.  exported to Georgia. In 2014 SOCAR provided 5.3 billion cub.m. of gas to the oilmen, Gurbanov said. But the volume of export to Georgia will remain unchanged.—0--