BAKU, Azerbaijan, Oct.8
By Leman Zeynalova – Trend:
Azerbaijan’s state oil company SOCAR produced 7.407 million tons of oil in 2020, thereby exceeding the forecast volume by 201,400 tons and implementing the plan by 102.8 percent, Trend reports with reference to the company.
The company’s year-on-year production fell by 275,900 tons.
In 2020, 95.7 percent of the oil produced came from temporary stock wells, 3.4 percent accounted for new wells, and 0.8 percent came from inactive wells. Around 21.7 percent of the total oil production was achieved by using the fountain method, while 56.8 percent and 21.5 percent accounted for gas lift and deep pump methods, respectively.
SOCAR’s gas production plan was implemented by 97 percent in 2020 and output stood at 7.344 billion cubic meters or 525.4 million cubic meters more than in 2019. During the reporting period, SOCAR received 2.190 billion cubic meters of gas from Azeri-Chirag-Gunashli block and 5.646 billion cubic meters of gas from Shah Deniz.
The overall oil and gas output in Azerbaijan stood at 34.5 million tons and 37.1 billion cubic meters, respectively, or 2.9 million tons lower and 1.5 billion cubic meters more as compared to 2019.
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