Azerbaijan, Baku, November 16 / Trend , E.Ismaylov /
In 2008, SOCAR (including joint ventures and operating companies) produced 8.65 million tons of oil compared to 8.8 million tons in 2007, SOCAR (State Oil Company of Azerbaijan) 2008 report said. The decline in oil production was 1.7 percent.
Of the total oil produced by the company in 2008, more than 7.4 million tons accounted for Azneft production unit compared to about 7.53 million tons in 2007. In 2008 joint ventures and operating companies produced around 1.24 million tons compared to about 1.3 million tons in 2007.
In 2008, SOCAR produced 7.75 billion cubic meters of gas compared to about 6 billion cubic meters in 2007.
Of the total volume of gas produced in 2008, about 7.65 billion cubic meters accounted for Azneft as compared to more than 5.8 billion cubic meters in 2007. In 2008, the JV and OC produced 106.6 million cubic meters of gas compared to 173.7 million cubic meters in 2007.
Currently SOCAR develops 59 oil and gas fields, including 41 onshore and 18 offshore.
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