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SOCAR makes public forecasts regarding oil and gas production

05 June 2014 11:40 (UTC +04:00)

Baku. Agshin Rafigoglu – APA-Economics. Azerbaijan will produce 41.2 mln tonnes of oil and 28.8 bcm of gas this year, said the SOCAR Vice President on Oil & Gas Production and Transportation Rahman Gurbanov.

The vice-president said that the fields belonging to SOCAR are planned to produce 8.4 mln tonnes of oil and 7 bcm of gas.

ACG will produce 30.6 mln tonnes of oil and 12.4 bcm of gas. Shahdeniz is expected to extract 2.3 mln tonnes of condensate, 9.4 bcm of gas.

Speaking about oil to be produced by SOCAR, he noted that 6.7 mln tonnes of that oil will be exported to processing, 1.65 mln tonnes to foreign countries: “5.3 bcm of gas to be extracted by SOCAR in 2014 will be given to Azerenergy, 1 bcm exported to Georgia”.

2.1 bcm of gas to be extracted from Shahdeniz wil be given to Azerbaijan, 6.4 bcm to Turkey, 700 mcm to Georgia. 2.4 bcm of ACG’s gas will be given to Azerbaijan, 8.6 bcm pumped to reservoirs to keep reservoir pressure.