Soon Azerbaijan to mark export of 400 million tons of oil to the world markets

Since beginning of oil export in December 1997 till September 1, 2015 Azerbaijan has exported over 390 million tons of oil to the world markets, reads the article by Khoshbakht Yusifzada, Senior Vice President of State Oil Company of Azerbaijan (SOCAR), published in Azerbaijan newspaper.

Out of this volume 283 million tons of Azerbaijani gas has been exported to the world markets via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, 74 million tons via the Baku-Supsa oil pipeline and 12 million tons via the Baku-Novorossiysk oil pipeline, reads the article.

Another 21 million tons of Azerbaijani oil was exported to the world markets via the Baku-Georgia railway.

Yusifzada writes that in 2014 Azerbaijan extracted 41.9 million tons of oil. 33.7 million tons of oil and condensate was extracted by BP-Azerbaijan (oil extracted from the bloc of Azeri-Chirag-Guneshli fields (ACG) and condensate from Shah Deniz field). SOCAR’s oil extraction including share in the projects with foreign partners, totaled 8.3 million tons of oil.

“During 8 months, 2015 Azerbaijan extracted 27.8 million tons of oil. BP has extracted 22.3 million tons of oil,” Yusifzada added.

According to SOCAR’s forecasts, this year Azerbaijan plans to extract 40.7 million tons of oil. However, most likely the production will total about 41 million tons.

Azerbaijan exports about 2.8 million tons of oil and condensate a month.—0—