SOCAR plans over 30% gas output rise
07.10.2016 14:01
Azerbaijan’s state oil company SOCAR plans to increase the gas output at the fields developed by the company independently by 31 percent to 10 billion cubic meters per year, vice-president for field development at SOCAR, Yashar Latifov told Natural Gas World Oct.6.
The company’s gas output stood at 6.87 billion cubic meters in 2015, but the volume will increase significantly, he added.
"SOCAR is developing Guneshli oil field’s gas layer as well as Bulla-Deniz and Umid gas fields,” said Latifov. "Azerbaijan’s total commercial gas output is expected to reach 36 billion cubic meters in 2020. BP-led Shah Deniz stage 1 and 2 (SD1,2) would produce 26 billion cubic meters, while SOCAR’s own projects would produce 10 billion cubic meters.”
Azerbaijan also plans to add 5 billion cubic meters of gas annually to the output level in late 2021 from Absheron gas field.
SOCAR produced 4.22 billion cubic meters of gas from the country’s offshore and onshore fields using its own funds in January-August 2016, as compared to 5.54 billion cubic meters in the same period in 2015.
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