Equinor Expects To Close The Deal To Sell Assets To SOCAR In Azerbaijan In Mid-2024
Norwegian Equinor plans to close the deal to sell SOCAR (State Oil Company of Azerbaijan) its assets in Azerbaijan in mid-2024. “The closure (of the transaction – IF) is expected in mid-2024,” Interfax-Azerbaijan cites excerpts from Equinor’s integrated annual report for 2023. In its fourth-quarter 2023 report released in February, …
KazMunayGas and SOCAR Will Consider Projects Related to Geological Exploration in Kazakhstan
KazMunayGas JSC invited SOCAR, the state oil company of Azerbaijan, to consider projects related to geological exploration in Kazakhstan. Chairman of the Board of KazMunayGas JSC Magzum Mirzagaliev spoke about this during his visit to Baku, Kazinform agency reports with reference to Trend. — KazMunayGas wants the relationship with SOCAR …
SOCAR Increased The Volume Of Drilling Work By 1.2% In 2023
The volume of drilling by the drilling departments of SOCAR (State Oil Company of Azerbaijan) in 2023 amounted to 73.987 thousand meters. “In 2023, the company’s drilling volumes amounted to 73.987 thousand meters. Compared to 2022, the company increased the volume of drilling work by 1.2% last year,” the company …
The Cost of Gas Production at SOCAR Fields in 2022 Increased By 10%
The cost of gas production at the fields of SOCAR (State Oil Company of Azerbaijan) in 2022, compared to 2021, increased by 10.35% – to 67.57 manats ($39.74 at the current exchange rate) per 1 thousand cubic meters. Such data are provided in the company’s annual report for 2022, published …
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 …
Azerbaijan Expects 4-fold Increase in Annual Gas Production from Absheron – Minister of Energy
Azerbaijan expects a 4-fold increase in annual gas production from the Absheron gas condensate field in the Caspian Sea to 6 billion cubic meters, Energy Minister Parviz Shahbazov said. “We (Thursday in Baku – IF) took part in the ceremony of extraction of the first gas from the Absheron field. …
SOCAR and ADNOC Discuss Cooperation Within Development of Absheron Field
SOCAR President Rovshan Najaf met with Abu Dhabi National Oil Company (ADNOC) Executive Director Musabbeh Al Kaabi. “At the meeting, it was noted that the agreement signed in August this year between SOCAR, TotalEnergies and ADNOC on the sale of a 30% stake in the Absheron gas condensate field development …
SOCAR Starts Estimating Reserves of 27 Fields in the Caspian According to SPE-PRMS Classification
SOCAR (State Oil Company of Azerbaijan) has started estimating reserves of 27 fields in the Azerbaijani sector of the Caspian Sea according to the SPE-PRMS classification. “Within the framework of cooperation with DeGolyer and MacNaughton, the calculation (reserves -IF) of 27 fields in the Azerbaijani sector of the Caspian Sea …
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 …
SOCAR Increased Drilling Volumes by 1% in the First Half of 2023
The volume of drilling by the drilling departments of SOCAR (State Oil Company of Azerbaijan, SOCAR) in January-June 2023 amounted to 38.562 thousand meters, SOCAR told Interfax-Azerbaijan. “Compared to the indicator of the first half of 2022, SOCAR achieved an increase in drilling volumes. The company drilled 38,562 meters, which …