SOCAR increases oil, gas production in first 8 months

Azerbaijan’s state energy company SOCAR increased production of crude oil and natural gas in the first eight months of 2014 year-on-year, the company said.

Crude production in January-August rose to 5.6 million tons from 5.5 million tons a year earlier. 

Gas output grew to 4.9 billion cubic meters from 4.7 billion cubic meters, the company said.

Azerbaijan’s total oil production during the period fell to 28.6 million tons from 29.1 million tons a year earlier, the State Statistics Committee said earlier this month.

Marketable natural gas output grew to 12.3 billion cubic meters from 11.7 billion cubic meters.

Azerbaijan is the third largest oil producer in the former Soviet Union. The largest producer is Russia, which is followed by Kazakhstan.

Bakudaily.Az