SOCAR Slightly Reduced Oil Production in the First Half of 2023, Increased Gas Production by 14.6%
SOCAR (State Oil Company of Azerbaijan) produced 3 million 851.465 thousand tons of oil in January-June 2023, the company’s press service told Interfax-Azerbaijan.
According to SOCAR, in the first half of 2022, the company produced 3 million 864,839 thousand tons of oil. Thus, the decline in oil production in January-June 2023 amounted to 0.3%.
Gas production by SOCAR in the first half of 2023 amounted to 4 billion 440 million 479.3 thousand cubic meters compared to the same period last year at the level of 3 billion 873 million 595.516 thousand cubic meters. Thus, in January-June 2023, the company increased gas production by 14.6%.
At the same time, in the II quarter of 2023, the company produced 1 million 930.974 thousand tons of oil and 2 billion 235 million 127.3 thousand cubic meters of gas. The decline in oil production compared to the second quarter of 2022 amounted to 0.5%, gas production increased by 14.3%
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%).
