SOCAR boosts gas production by 0.3 bcm in 2019
By Ayya Lmahamad
State Oil Company of Azerbaijan (SOCAR) increased gas production by 0.3 billion cubic meters in 2019, compared to the previous year, Azertag reported with reference to company’s “annual report on sustainable development” for 2019.
SOCAR’s natural gas production amounted to 6.8 billion cubic meters in 2019. It should be noted that gas production amounted to 6.5 billion in 2018 and 6.8 billion in 2017.
Moreover, the company’s export volume of oil and petrochemical products during the reported year was 2.1 million tons. According to the report, 366,410 tons of raw material were processed at “Azerikimya”.The company exported 1.5 million tons of oil and petrochemical products in 2018.
SOCAR's methanol plant produced 383,000 tons of methanol, 97.6 percent of which were export abroad, and the remaining 2.4 percent- to domestic market.
Furthermore, SOCAR processed 6.1 million tons of oil last year. In total, during the reported period, 6.2 million tons of raw material were processed, including 6.1 tons of oil and 40,800 tons of imported raw materials. According to the plan, 101.4 percent of oil and 103.1 percent of total oil volume was processed.
In the meantime, the company processed 3.2 billion cubic meters of natural gas in 2019. Some 3.1 billion cubic meters of purchased purified gas, 5.4 million cubic meters of technical butane and 0.03 million cubic meters, from the total of 3.2 billion cubic meters of raw natural gas were processed at SOCAR gas processing plant.
Likewise, SOCAR, as one of the largest taxpayers in the country, has increased payment to the budget by AZN 14.1 million. Thus, the company made payments to the state budget in the amount of AZN 1.6 billion in 2019.
Additionally, it was noted that to date, SOCAR has invested over $1.1 billion in neighbouring Georgia’s economy. The company started its operation and investing in the energy sector of Georgia in 2006. Currently, SOCAR Energy Georgia, SOCAR Georgia Petroleum, SOCAR Georgia Gas, SOCAR Georgia Security and the oil terminal in Kulevi are successfully operating in Georgia. The company has paid $1.5 billion in taxes to the state budget of Georgia during the 12 years of its operation and is the largest taxpayer in Georgia.
SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. The company owns two refineries in Azerbaijan, one in Turkey, as well as networks of petrol stations in Azerbaijan, Turkey, Georgia, Romania and Switzerland.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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