SOCAR increases oil, gas production in Jan.-July

Azerbaijan’s state energy company SOCAR produced more crude oil and natural gas in the first seven months of 2014 year-on-year.

The company pumped 4.9 million tons of oil in January-July, up from 4.85 million tons a year earlier, a source at SOCAR told Bakudaily.

Gas production grew to 4.4 billion cubic meters from 4.2 billion cubic meters.

Azerbaijan’s total oil production in the first seven months fell to 24.9 million tons from 25.5 million tons year-on-year, according to the State Statistics Committee. 

Marketable gas output grew to 10.8 billion cubic meters from 10.3 billion cubic meters.

Azerbaijan is the largest oil producer in former Soviet Union after Russia and Kazakhstan. It increased crude production by 0.2% last year to 43.1 million tons. Marketable gas output rose to 17.9 billion cubic meters from 17.2 billion cubic meters.

Bakudaily.Az