18 Oct 2019 16:55

SOCAR boosted production of oil 2.3%, gas 3.4% in 9M

BAKU. Oct 18 (Interfax) - The State Oil Company of the Azerbaijan Republic (SOCAR) produced 5.73 million tonnes of oil in 9M 2019, a year-on-year increase of 2.3%, the company told Interfax-Azerbaijan.

Gas production grew 3.4%, to 5.034 bcm.

In Q3, oil production grew 2.8%, to 1.956 million tonnes of oil, and gas production increased 11.4%, to 1.801 bcm.

In 2018, SOCAR produced 7.542 billion tonnes of oil and 6.525 bcm of gas.

In 9M 2019, the company exported 1.104 bcm of gas, a 26.6% increase. It currently only exports to Georgia.

In the reporting period, the company pumped 2.11 bcm into underground gas storage (UGS) facilities. "There is currently 2.9 bcm in UGS facilities, which corresponds to the indicators for the same period of 2018," the company said.

Azerbaijan has two UGS sites: Kalmaz and Garadag.