In January-September 2023, SOCAR Slightly Reduced Oil Production and Increased Gas Production by 9%
The SOCAR (State Oil Company of Azerbaijan) company produced 5 million 819.062 thousand tons of oil in January-September 2023, the company’s press service told Interfax-Azerbaijan.
According to SOCAR, in January-September 2022, the company produced 5 million 824.441 thousand tons of oil. Thus, the decline in oil production in January-September 2023 amounted to 0.1%.
Gas production by SOCAR in January-September 2023 amounted to 6 billion 428 million 449.3 thousand cubic meters compared to the same period last year at 5 billion 901 million 543.516 thousand cubic meters. Thus, the company increased gas production by 8.9% in January-September 2023.
At the same time, in the third quarter of 2023, the company produced 1 million 967.597 thousand tons of oil and 1 billion 987 million 970 thousand cubic meters of gas. The growth in oil production compared to the third quarter of 2022 was 0.4%, the decline in gas production was 2%
In 2022, SOCAR produced 7 million 785.286 thousand tons of oil (a decrease of 1.4%), gas – 8 billion 69.963 million cubic meters (an increase of 2.7%).
