SOCAR may enter Top 25 of world’s oil companies

The State Oil Company of Azerbaijan (SOCAR) has a chance to become one of the world’s leading oil companies.

In any case, the SOCAR can get it due to the logic of the last report, World’s Biggest Oil Companies, published by journal Forbes. It turns out that in order to get a leader position the company can not only produce about 1.4 million bpd, but also get the missing volume with help of gas extraction. Today, Azerbaijan, in general, produces less than 900 million bpd, but in the prospect it is expected a significantly rise in natural gas production, which may increase the total production of hydrocarbons in the country up to 1.5 million barrels of oil equivalent per day. The only question - SOCAR’s share in this production, expected at the turn of 2018-2022.

Today, the World’s Biggest Oil Companies is as follows: Saudi Aramco (12.5 million bpd), Gazprom (9.7 million bpd), National Iranian Oil Co. (6.4 million bpd), ExxonMobil (5.3 million bpd), Petro China (4.4 million bpd), BP (4.1 million bpd), Royal Dutch Shell (3.9 million bpd), Pemex (3.6 million bpd), Chevron (3.5 million bpd), Kuwait Petroleum Corp. (3.2 million bpd), Abu Dhabi National Oil Co. (2.9 million), Sonatrach (2.7 million bpd), Total (2.7 million bpd), Petrobras (2.6 million bpd), Rosneft (2.6 million bpd), Iraqi Oil Ministry (2.3 million bpd), Qatar Petroleum (2.3 million bpd), LUKOIL (2.2 million bpd), ENI (2.2 million bpd), Statoil (2.1 million bpd), ConocoPhillips (2 million bpd), Petroleos de Venezuela (1.9 million bpd), Sinopec (1.6 million bpd), Nigerian National Petroleum (1.4 million bpd), Petronas (1.4 million bpd).

 

/abc.az/