"Azneft" PU forecasts 6.3 mln tons of oil production

Baku. 14 April. REPORT.AZ/ Oil production on SOCAR's "Azneft" Production Union (PU) is predicted at 6,3 mln tons and 5,550 bln cum gas in 2017.

Report informs, "Azneft" PU Director General Dashgin Iskandarov said in his interview with Caspian Energy magazine.

He recalled that in January-February 2017, 1,016 mln tons of oil and condensate, 827,3 mln. cum gas were extracted from offshore fields, 52.5 thousand tons of oil and condensate and 11.4 mln. cum gas were extracted from onshore fields.

According to him, 95% of total oil production and over 98% of gas production accounted for offshore fields: “Currently, "Azneft" PU carries out production in 27 oil and gas fields. 13 fields are in the Azerbaijani sector of the Caspian Sea and 14 onshore. This year, key challenges facing "Azneft" PU are to maintain the stability of production, as well as construction of new platforms and developing drilling works to increase oil production”.