SOCAR’s oil output exceeds forecasted figures
Azerbaijan’s oil output hit 31.41 million tons in January- September 2015, or 3.2 percent more than the forecasted volumes, Azerbaijan’s Energy Minister Natig Aliyev announced.
The forecasted volume for oil production for three quarters of 2015 was 30.44 million tons, according to the minister.
“The volume of production by the State Oil Company of Azerbaijan (SOCAR) stood at 6.21 million tons in Jan.-Sept, or 0.1 percent more than the forecasted figure,” he said.
This is while the oil production at Azeri-Chirag-Guneshli block of oil and gas fields stood at 23.53 million tons, or 4 percent more than the forecasted volume.
The condensate production at Shah Deniz gas and condensate field exceeded 1.66 million tons, or 5.7 percent higher than the forecasted volume.
“The oil export from Azerbaijan totaled 26.47 million tons in three quarters of 2015, or 3.4 percent more than the forecasted figure,” said the minister, adding that 1.3 million tons of the exported oil accounted for SOCAR.
The volume of SOCAR oil refining stood at 4.86 million tons in Jan.-Sept. 2015, or one percent more than the forecasted volume, said the report.
The volume of oil production in Azerbaijan exceeded 42.4 million tons in 2014, compared to 43.5 million tons in 2013.
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