In 2023, the drilling volume by the State Oil Company of Azerbaijan (SOCAR) amounted to about 74,000 meters. This is 1.2% more than in 2022.
The fields operated by the company independently or as a major shareholder produced 7.7 million tons of oil and 8.4 billion cubic meters of gas. “Compared to the corresponding period in 2022, oil production remained relatively stable, while gas production increased by 4%,” the article says.
SOCAR’s message notes that the growth trend in gas production throughout the country continued and increased by 3.3% compared to the corresponding figure in 2022 and amounted to 48.3 billion cubic meters. In total, more than 30.1 million tons of crude oil were produced in Azerbaijan during the year.
During the reporting period, SOCAR exported 17.8 million tons of oil to foreign markets.
“This includes the volumes of oil produced by the company with its own capabilities, as well as the shares of profit from oil produced by international consortiums operating in the country and belonging to the state of Azerbaijan and SOCAR,” the report notes.
https://report.az/en/energy/socar-reveals-drilling-production-refining-and-export-figures-for-last-year/