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Baku/26.04.21/Turan: The State Oil Company of Azerbaijan (SOCAR) purchases from the Greek company Okeanis Eco Tankers (OET) for $ 120 million three tankers Nissos Therassia, Nissos Heraclea and Nissos Schinousa, built 6 years ago.
SOCAR agreed to this deal even despite the European tanker prices rose to a ten-year high in April.
These vessels with a deadweight of 115 thousand tons, a length of 252 m and a width of 45 m will be transferred to SOCAR in the third quarter of 2021 and will be renamed in honor of a number of heroes of the Second Karabakh War.
Thus, SOCAR's tanker fleet will exceed 40 vessels.
The state-owned company has Suezmax and Aframax class tankers for the transportation of bulk cargo across the oceans.
In the spring of 2020, the first Lachin tanker manufactured in Azerbaijan at a new shipyard with a deadweight of 7875 tons, a length of 141 m and a width of almost 17 m was launched. This vessel is involved in the transportation of goods for SOCAR in the Black and Mediterranean Seas.-0-
Energy
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The State Oil Company of Azerbaijan (SOCAR) is launching the Leucipa monitoring program for the first time in the Caspian region to enhance production efficiency in the oil and gas industry, KOKAR reported. “SOCAR is implementing an innovative digital solution – the Leucipa monitoring program – to optimize processes and improve extraction efficiency. This initiative is part of a strategic collaboration with Baker Hughes. This project is a key part of SOCAR’s digital transformation strategy,” the company’s statement said.
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The daily oil production, including condensate, in Azerbaijan in January amounted to 74.5 thousand tons (559 thousand barrels). Of this volume, oil accounted for 61.7 thousand tons (454 thousand barrels per day), and condensate – 12.8 thousand tons (105 thousand barrels per day), the press service of Azerbaijan’s Ministry of Energy. Thus, Azerbaijan used 82.4% of its OPEC quota in January.
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In January 2025, Azerbaijan exported a total of 2 bcm of natural gas. Compared to January of the previous year, export volumes decreased by 300 mcm, the website of Azerbaijan’s Ministry of Energy. According to the ministry’s data, during the reporting period, Azerbaijan’s gas exports to Europe amounted to 1 bcm (a decrease of 100 mcm.)
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In January 2025, Azerbaijan exported 2 million tons of oil and condensate to foreign markets. The export volumes of liquid hydrocarbons from Azerbaijan decreased by 100 thousand tons, the website of Azerbaijan’s Ministry of Energy.
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