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SOCAR increases oil production by 2.8% and gas production by 11.4% in the 3rd quarter

SOCAR increases oil production by 2.8% and gas production by 11.4% in the 3rd quarter SOCAR increases oil production by 2.8% and gas production by 11.4% in the 3rd quarter


Baku, October 18 - Neftegaz.RU. In the 3rd quarter of 2019, SOCAR increased oil production by 2.8% and natural gas production by 11.4% compared to the same period of the previous year, producing approximately 21 million tons of oil and over 1.81 billion cubic meters of natural gas.

During the reporting period, the company continued to implement the comprehensive action plan to maintain production level in the oil and gas fields exploited by SOCAR. The operation of some out-of-exploitation wells has also been resumed. The company performed more than 37 thousand3 meters of drilling work in the 3rd quarter of 2019.

In total, more than 9.44 million tons of oil and 8.75 billion cubic meters of natural gas were produced in the country throughout the third quarter. 266 billion cubic meters of natural gas have been produced in the first 9 months of the current year. This year 2.17 billion cubic meters of natural gas have been delivered to underground gas storage levelling the volume of gas reserved for the winter season to 2.98 billion cubic meters, while the filling of gas to the storages continues.

In the 3rd quarter of 2019, SOCAR exported 145.99 million cubic meters of gas, while the total volume of gas exports of the country was 2.710 billion cubic meters. During the first 9 months of the current year, Azerbaijan exported over 8.211 billion cubic meters of natural gas, while more than 1.112 billion cubic meters of that were exported by SOCAR.

SOCAR’s crude oil export was 5.513 million tons in the 3rd quarter. During that period, SOCAR exported 532 thousand14 tons of oil and petrochemical products.