SOCAR increases oil and gas production

Baku. 29 January. REPORT.AZ/ The State Oil Company of Azerbaijan (SOCAR) produced 7.54 million tonnes of oil and 6.53 billion cubic meters of gas in 2018, respectively up 1.6% and 7.2% from the previous year, Report informs citing the company.

Total oil production across the country amounted to 38.81 million tonnes, and gas production to 30.49 billion cubic meters of gas. It marked a stable oil output and a 6.6 percentage increase in gas extraction.

SOCAR's First Vice President Khoshbakht Yusifzade said that by continuing to invest in exploration projects, it is possible to supply more products to the market along with ensuring the country's energy security: "The new gas condensate fields are discovered in Azerbaijan. This will help increase gas extraction in the future."