SOCAR produced more than 1.9 million tons of oil and over 1.9 billion m3 of gas in the 1st quarter of 2021, the company has reported.
During the reported period, the country produced about 8.8 million tons of oil and more than 10.4 billion m3 of gas.
Moreover, SOCAR exported 4.5 million tons of crude oil and about 512 million m3 of natural gas in the 1st quarter of the year.
The volume of oil exported by SOCAR covers not only the oil produced by the company but also the share of SOCAR and Azerbaijan in international consortia.
A total of about 7 million tons of oil were exported from the country and loaded on tankers.
Furthermore, more than 5 billion m3 of gas were exported from the country in the1st quarter of 2021, which is by 45 % more than in the same period of 2020.
The increase in gas exports was mainly due to the commissioning of the TAP gas pipeline.
Likewise, in the corresponding period, the company completed 7,000 m of drilling.
Additionally, the company’s refining complex in Azerbaijan processed over 1.4 million tons of oil and more than 1.1 billion m3 of natural gas.
During the 1st quarter, about 669,000 tons of oil, petrochemicals and gas chemicals produced at SOCAR enterprises were exported to foreign countries.
Compared to the same period last year, growth made up 25%, mainly due to the export of diesel fuel, bitumen, coke, and petrochemicals.
It should be noted that the company produced 7.4 million tons of oil and 7.3 billion m3 of gas in the fields in 2020.