Baku Energy Forum - SOCAR increases oil production in 2021

SOCAR increases oil production in 2021



Azerbaijan's State Oil Company (SOCAR) has increased oil production by 350,700 tons in 2021, compared to the forecast, Azertag has reported.

Last year, the company produced 7.9 million tons of oil and 7.9 billion cubic meters of gas.

Moreover, 1.3 million tons of oil and 1.2 billion cubic meters of natural gas were exported. Some 239,600 tons of oil were transported through the Baku-Tbilisi-Ceyhan pipeline and 1 million tons through the Baku-Novorossiysk pipeline.

At the same time, MP Vugar Bayramov wrote on his official Twitter page that SOCAR increased gas export by 65 percent in the first two months of 2022.

"In 2021, Azerbaijani gas export increased by 39.8 percent and reached 19 billion cubic meters. Azerbaijani gas output increased by 18.1 percent and reached 43.9 billion cubic meters last year. New natural gas period starts in Azerbaijan," he wrote.

It should be noted that last year, 34.6 million tons of oil and 43.9 billion cubic meters of gas were produced in the oil and gas sector.

Earlier it was reported that the slight increase in oil production is primarily due to the gradual elimination of voluntary oil output cuts by the OPEC+ agreement.

Additionally, the country consumed 13 billion cubic meters of natural gas, an 8.4 percent increase over the previous year.