9 Oct 2012 13:42

SOCAR cuts oil production 2.4% in 9M

BAKU. Oct 9 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) cut oil production by 2.4% year-on-year to 6.175 million tonnes in January-September 2012, a company representative told Interfax.

Overall oil production in Azerbaijan in the nine months totaled 32.747 million tonnes, with SOCAR accounting for 18.8% of the total.

In September alone, SOCAR produced 680,100 tonnes of oil, compared to total production of 3.457 million tonnes in the country, according to the company's data.

Last year, 45.625 million tonnes of oil were produced in Azerbaijan, with SOCAR accounting for 8.4 million tonnes. The country's government forecasts oil production at 43 million tonnes this year.