TODAY.AZ / Business

Azerbaijan increases gas production in 2020

15 July 2020 [17:12] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan increased gas production in the country by 14 percent in the second quarter of 2020, compared to the same period last year, SOCAR reported on July 15.

In the second quarter of 2020, gas production in the country increased by 14 percent and amounted to 9.4 billion cubic meters.

Oil production in the country amounted to 8.6 million tons, which is 5.3 percent less in annual terms.

Moreover, 1.8 million tons of oil and 1.8 billion cubic meters of gas were produced from fields directly managed by SOCAR.

Furthermore, in the second quarter of 2020, SOCAR processed about 1.5 million tons of oil and about 804 million cubic meters of natural gas. The depth of oil processing was 94.93 percent.

Likewise, the volume of SOCAR drilling operations decreased by more than 15,000 meters compared to the same period last year. The decline was due to a decline in a global demand for oil, as a result of the coronavirus pandemic and a temporary production restriction under the OPEC+ agreement. Production was mainly limited to low-yield onshore fields, and drilling operations were accordingly reduced.

Additionally, the company exported over 5 million tons of crude oil to foreign markets, while gas exports amounted to 138 million cubic meters.

It should be noted that the country’s gas exports amounted to about 3 billion cubic meters, which is 22.5 percent more than in the same period last year.

Exports of petroleum refining and petrochemical products amounted to about 671,000 tons in April-June.

In the second quarter of this year, the actual gas consumption in Azerbaijan increased and amounted to over 2.2 billion cubic meters.

According to the statement, the growth took place at the expense of the population category.

Thus, the volume of gas consumed by the population inside the country increased by 20.5 percent, while the level of gas consumption in industrial and energy sectors decreased.


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