According to the results of the first quarter of this year, the State Oil Company of Azerbaijan (SOCAR) produced 1.9 million tons of oil and 2 bcm of gas, the SOCAR report.
The report shows that compared to the same period last year, SOCAR’s oil production decreased by 1.9%, and gas production decreased by 9.9%. During this period, the reduction in drilling operations amounted to 2,068 meters, amounting to 17 thousand 664 meters.
In the first quarter, SOCAR processed 1 million 654.3 thousand tons of oil (1 million 667.4 thousand tons in January-March 2023) and 923.7 mcm of gas (892.3 mcm.)
More than 495.5 thousand tons of oil, petrochemical and gas chemical products produced at SOCAR enterprises in Azerbaijan were exported to foreign markets. Exports of oil, petrochemical and gas chemical products increased by 3.6% compared to the same period last year.
Caspian Barrel
