By Ayya Lmahamad
Azerbaijan ranks first among ten largest oil exporters to the European Union due to low associated gas emissions, Azertag reported with the reference to company’s annual report on sustainable development for 2019.
According to the report, work is underway on the mining sites of the State Oil Company to purify contaminated by oil and oil products and flooded areas, and restore them in accordance with the landscape and architecture plan. Some 130 hectares of polluted areas were reclaimed in 2019.
Thus, due to low associated gas emissions from oil production, Azerbaijan ranks first among the ten leading oil exporting countries to the European Union.
Likewise, it was noted that SOCAR fulfilled its oil production plan by 101.3 percent in 2019.
During the reported period, the company produced 7.6 million tons of oil (including condensate), which exceeds the forecast by 99,300 tons or 101.3 percent. Of these, 6.3 million tons were produced at the fields owned by Azneft Production Association and 1.3 million at the company's shares.
Furthermore, company has increased gas condensate reserves by 25.7 percent to 10.5 million tons at the end of 2019. Of this, 4.7 million tons were approved, processed and put into production and 5.3 million tons were approved and unprocessed condensate reserves.
In the meantime, the company decreased confirmed oil reserves by 4.5 percent to 120.2 million tons. Of this, 67.1 million tons of oil approved, processed and put into production, 6.8 million tons approved, processed and not included in production, 74.1 million tons approved and processed and 46.1 million tons approved and not processed.
Additionally, since the start of its activity in Ukraine, SOCAR has invested a total of about $300 million in the economy of the country. It should be noted that SOCAR Energy Ukraine started its activities in Ukraine in 2008. The main activity of SOCAR Energy Ukraine is to improve the network of petrol filling stations and organize wholesale of petrol and oil products in the territory of Ukraine.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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