1 trillion cm of gas extracted in Shah Deniz

1 trillion cm of gas extracted in Shah Deniz In 1997-2011, 1.9 bn barrels of oil were extracted from Azeri-Chirag-Guneshli fields, said the BP-Azerbaijan’s report on Sustainable Development. Along with summary of business activity of BP in Azerbaijan during 2011, performances in economic and social spheres were reflected in the report, APA reports. Report says that, 1 trillion cm of gas has been extracted from Shah Deniz so far.  Read More

Oil Output fell by 7,0 % in Azerbaijan

Oil Output fell by 7,0 % in Azerbaijan Azerbaijan Produced 14,8 million ton oil and 6,0 billion cubic meters gas in the first four months of 2012. According to the State Statistical Committee 15,9 million ton and 8,4 billion cubic meters gas produce in the same period of 2011. Oil output decreased 7,0 % in the first month of 2012, meanwhile the production in mining sphere of industry in January-April decreased by 5.3% compared to the same period of... Read More

SOCAR’s Assets Reached $ 22 Billion

SOCAR’s Assets Reached $ 22 Billion Assets of the State Oil Company of Azerbaijan (SOCAR) amount to 17 billion manat ($ 22 billion), SOCAR Vice-President on economic issues Suleyman Gasimov said during a forum on creating a new complex for oil and gas processing and petrochemical production in Azerbaijan on Wednesday. He said last year the company’s net profit amounted to 879 million manat. Transition to international financial reporting standards... Read More

Azerbaijan’s proven energy reserves

Azerbaijan’s proven energy reserves Azerbaijan’s proven hydrocarbon reserves are estimated at 4.5 billion tons of equivalent fuel, head of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev said in Baku on Tuesday during a forum on the building of a new complex for oil and gas processing and petrochemical production in Azerbaijan. “Azerbaijan’s forecasted hydrocarbon reserves are estimated at 10 billion tons of... Read More