SOCAR lead story

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Drilling, production and export figures for 2019

• Last year SOCAR maintained stable oil and gas production

• Natural gas production increased by 17% amid natural decline in oil production in the country
• Natural gas consumption in the country increased by almost 9% mainly due to the development of gas chemical industry and widening the household gas supply infrastructure .

• Azerbaijan increased natural gas export by 23%; 2.8 billion cubic meters of gas were transported by the Southern Gas Corridor .

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NewspaperNews Archives

First Shafag-Asiman exploration well spudded offshore Azerbaijan

SOCAR and BP announced today that the first exploration well was spudded on the Shafag-Asiman offshore block in the Azerbaijan sector of the Caspian Sea on 13 January. SOCAR and BP each hold 50% equity interest. BP is operator during the exploration phase of the project. Drilling is conducted by SOCAR’s Caspian Drilling Company.
The SAX01 well is the first to be drilled in the contract area and is in accordance with the PSA that was ratified by the Azerbaijani parliament in 2011.

The well is planned to reach total depth of up to 7000 metres, which is expected to take around nine months, and following this, well data will be analysed and, if successful, an evaluation programme may be conducted to confirm the results.

Rovnag Abdullayev, president of SOCAR, said: “A while back, we have successfully completed seismic study in the Shafag-Asiman block with our partner BP. Now we are embarking on the next step, and starting to drill an exploration well. The exploration drilling will allow to fully uncover the block’s potential. We are proud that today Azerbaijani companies -SOCAR’s business units provide all key services, including the construction of platforms and jackets as well as drilling, for such complex projects, as Shah Deniz, Azeri-Chirag- Gunashli and Shafag-Asiman.

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THE EUROPEAN CONNECTION OF TANAP, THE MAJOR SEGMENT OF THE SOUTHERN GAS CORRIDOR IS NOW REALITY

TANAP’S CONNECTION TO EUROPE IS COMPLETE

The opening of the European connection of the Trans Anatolian Natural Gas Pipeline (TANAP), the major segment of the Southern Gas Corridor, was held at MS4, TANAP measurement point in Edirne Ipsala, Turkey. President Ilham Aliyev of Azerbaijan, President Recep Tayyip Erdoğan of Turkey, Prime Minister Giorgi Gakharia of Georgia, ministers of Turkey, Northern Macedonia, Qatar and Bulgaria, high-level officials of Italy, Greece, Bosnia and Herzegovina, Serbia and the European Union, senior managers of SOCAR, BOTAŞ and BP, as well as important business people attended the international ceremony.
The European connection of the Trans-Anatolian Natural Gas Pipeline (TANAP), one of the most important projects of strategic energy cooperation between Azerbaijan and Turkey, was marked by an international ceremony at MS4 measurement point, Ipsala Edirne. The ceremony hosted by the Turkish President Recep Tayyip Erdoğan and honored by the President of Azerbaijan Ilham Aliyev, was attended by prime minister of Georgia Giorgi Gakharia, ministers of Turkey, Northern Macedonia, Qatar and Bulgaria, high-level officials of Italy, Greece, Bosnia and Herzegovina, Serbia and the European Union, SOCAR President and TANAP Chairman Rovnag Abdullayev, senior managers of BP and BOTAŞ - project partners, as well as representatives of the energy sector from the Southern Gas Corridor member-countries.

SOCAR President and TANAP Chairman Rovnag Abdullayev addressed the meeting: “Last year we launched the first phase of the Southern Gas Corridor and its major segment - TANAP. Today TANAP is fully ready to deliver natural gas to Europe. The construction of this historic infrastructure extended from the East to the West throughout Turkey was finished within time and to a high standard. On completion of the construction of Trans Adriatic Pipeline, which will be connected with TANAP at the Turkish-Greek border, Azerbaijani natural gas will be transported directly from the Caspian basin to European markets for the first time in history.

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SOCAR to provide managerial expertise to Antipinsky Refinery

State Oil Company of Azerbaijan (SOCAR) completed necessary procedures and became a minority shareholder of the SOCAR Energoresurs Group in Russia. SOCAR Energoresurs Group unites Antipinsky Refinery and three oil fields with 45 million tons of proven oil reserves in Orenburg Oblast, Russia.
SOCAR’s main role in this project is to provide managerial expertise to Antipinsky Refinery. Given the structure of the agreement, SOCAR’s participation in the Antipinsky Refinery does not create risks for SOCAR related to the refinery’s previous debts.

Antipinsky Refinery has annual production capacity of 7.5 million tons. It produces diesel, vacuum gasoil, naphtha, gasoline (A80 and A92), coke, technical sulfur, process oil and liquefied gas.

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The State Oil Company of Azerbaijan… at a glance

Discover SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate.

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International ratings

When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.

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