SOCAR maintains oil production at last year's level in Q1, gas up 7%
BAKU. April 16 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) produced 1.8 million tonnes of oil in Q1 2018, in line with last year's output level, the company told Interfax.
SOCAR also produced 1.6 billion cubic meters (bcm) of gas, 8% more than in January-March 2017.
SOCAR's drilling division increased drilling by 14% year-on-year in Q1 to 40,500 meters, drilling a total of 15 wells.
SOCAR's joint ventures drilled 13 wells.
In 2017, the company produced 7.427 million tonnes of oil, down 1.3% and 6.089 bcm of gas, down 2.8%.