Azernews.Az

By Arslan Abbasov

Azerbaijan's state oil company SOCAR exported 411,339 tons of oil via the Baku-Novorossiysk northern route pipeline in January-March.

According to SOCAR, this amount is 85,548 tons less in comparison with the same period of 2012. Oil export totaled 2.064 mln tons in 2012, which is 76,000 tons more than in 2011.

SOCAR exported 799,202 tons of oil via the Baku-Supsa pipeline in January-March. This amount is 89,391 tons less in comparison with the same period of 2012. Oil export totaled 2.742 mln tons in 2012.

The Baku-Supsa Pipeline, also known as the Western Route Export Pipeline, transports oil from the Azeri-Chirag-Guneshli (ACG) block of fields in the Caspian Sea.

SOCAR President Rovnag Abdullayev said earlier this week that the company is seeking to increase oil production from its own fields by 2 million tons by 2015.

Abdullayev said currently the company is developing a program which is aimed not at stabilization of the oil production at the old fields, but an increase of the oil output.

Earlier, it was predicted that a total of 41.5 million tons of oil will be produced in Azerbaijan in 2013.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, two oil refineries and one gas refinery, an oil tanker fleet, a deep water platform fabrication yard, two trusts, one institution, and 22 subdivisions are operating as corporate entities under SOCAR.