BAKU, Azerbaijan, March 14. Azerbaijan's oil exports amounted to 24.4 million tons, while natural gas exports reached 25.5 bcm last year, which is a 2.3 percent decrease in oil exports and a seven percent increase in gas exports compared to 2023, Trend reports via the report on the activities of the country's Cabinet of Ministers for 2024.
During the reporting period, the State Oil Company of Azerbaijan (SOCAR) produced 7.5 million tons of oil and 7.7 billion cubic meters of gas. Of the oil, 1.2 million tons, and of the natural gas, 2.8 billion cubic meters, were directed for export.
All of the exported oil was transported via the Baku-Tbilisi-Ceyhan pipeline. Revenues from the export of oil and gas amounted to a total of $1.3 billion.
"Last year, Azerbaijan's oil and gas sector produced 29.1 million tons of oil and 50.6 billion cubic meters of gas. Of the produced oil, 79.4 percent, and of the produced gas, 89.4 percent were accounted for by enterprises in the non-state sector of the oil and gas industry.
Overall, compared to 2003, oil production in the country has increased by more than 1.8 times, and gas production has increased by 9.6 times," the report said.