In the third quarter of 2023, more than 15,000 meters of drilling work was carried out by the State Oil Company of the Republic of Azerbaijan (SOCAR). During the reporting period, the company produced about 2 million tons of oil and about 2 billion cubic meters of gas. Oil production has seen a slight increase. More than 7.5 million tons of oil and 12 billion cubic meters of gas were produced throughout the country. Gas production increased by 9.4% compared to the corresponding period of last year, APA-Economics reports citing SOCAR.
During the reporting period, SOCAR exported more than 4.4 million tons of crude oil to the world markets, and approximately 71 million cubic meters of natural gas to the Georgian market.
In total, over 5.8 billion cubic meters of gas were exported across the country in the current period. A 12.9% increase was recorded in gas export compared to the same period last year.
About 1.6 million tons of oil and 811 million cubic meters of natural gas were processed in the company's processing complex in Azerbaijan.
During the reporting period, natural gas consumption in the country amounted to approximately 2.5 billion cubic meters.