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Baku/28.07.21/Turan: The head of the SOCAR investment department, Vagif Aliyev, has submitted a letter of resignation and dismissed from his post.
SOCAR told Turan about it.
Recall that earlier, by the decision of the President of Azerbaijan, 4 vice-presidents of SOCAR left their posts.
From the end of 2020 to the beginning of 2021, the state-owned company is undergoing a reform process. In fact, all decisions in the company since January 2021 have been made by the Supervisory Board headed by the Minister of Economy Mikail Jabbarov.
The goal of the reform is to improve the efficiency of the country's largest company, whose debt is commensurate with the external public debt of Azerbaijan.—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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