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.
In the third quarter of 2019, SOCAR increased oil production by 2.8% and natural gas production by 11.4% compared to the same period of the previous year, producing approximately 21 million tons of oil and over 1.81 billion cubic meters of natural gas.
During the reporting period, the company continued to implement the comprehensive action plan to maintain production level in the oil and gas fields exploited by SOCAR. The operation of some out-of-exploitation wells has also been resumed. The company performed more than 37 thousand3 meters of drilling work in the third quarter of 2019.
In total, more than 9.44 million tons of oil and 8.75 billion cubic meters of natural gas were produced in the country throughout the third quarter. 266 billion cubic meters of natural gas have been produced in the first nine months of the current year. This year 2.17 billion cubic meters of natural gas have been delivered to underground gas storage levelling the volume of gas reserved for the winter season to 2.98 billion cubic meters, while the filling of gas to the storages continues.
In the third quarter of 2019, SOCAR exported 145.99 million cubic meters of gas, while the total volume of gas exports of the country was 2.710 billion cubic meters. During the first nine months of the current year, Azerbaijan exported over 8.211 billion cubic meters of natural gas, while more than 1.112 billion cubic meters of that were exported by SOCAR.
SOCAR’s crude oil export was 5.513 million tons in the third quarter. During that period, SOCAR exported 532 thousand14 tons of oil and petrochemical products.
Note for the editors: The figures in the text are rounded for readability. The exact figures are respectively shown in the following references.
1 - 1.956.444 tons
2 - 1.800 849 thousand m3
3 - 37310 meters
4 - 9.422.094 tons
5 - 8.686.730 thousand m3
6 - 25.999. 953 thousand m3
7 - 2.110.246 thousand m3
8 - 2.879.721 thousand m3
9 - 145.856 thousand m3
10 -2.659.006 thousand m3
11 -8.241.727 thousand m3
12 -1.103.570 thousand m3
13 -5.462.811 tons
14 - 531.725 tons