SOCAR's proven oil reserves increased in 2015

Company's proven gas reserves increased by 0.1%, proven oil reserves by over 3%

Baku. 3 August. REPORT.AZ/ Proven oil reserves of the State Oil Company of Azerbaijan Republic (SOCAR) increased by 3.2% compared to 2014 and to the end of 2015 amounted to 74.336 mln tons.

Report informs, Sustainable Development Report of SOCAR says.

During the reporting period, the company's proven gas reserves increased by 0.08% compared to the previous year and amounted to 55.002 bln cubic meters.

According to the report, SOCAR has produced 8 160,6 thousand tons of oil in 2015. 6 777,8 thousand tons of this amount accounted for "Azneft" Production Union, 1 382,8 thousand tons accounted for share of deposits which are company's shareholders. During the year a total of 80 wells in land and sea areas were put into operation.

Total of 6 871,5 mln cubic meters of natural gas produced by SOCAR in 2015.

During the year, 10 288,4 mln cubic meters of gas were transported of which, 8 869,6 mln cubic meters sold and transported to meet the needs of domestic market and 1 418,8 mln exported to foreign markets.

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