Azerbaijan Oil and Gas

Construction of polyethylene enterprise in Sumgayit is 98% completed

SOCAR Polymer (Azerbaijan) has almost completed construction and installation works on the production of low-pressure polyethylene, the Interfax reports.

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SOCAR completes design work on GPC complex in Azerbaijan

SOCAR (State Oil Company of Azerbaijan) has completed the initial engineering and design of a new gas processing and polymer complex (GPC) in Garadagh district of Baku, the company's president

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Head of SOCAR: Total investments in oil and gas sector of Azerbaijan under PSA contracts exceed $80 bln

Total investments in the oil and gas sector of Azerbaijan under production sharing agreements (PSA) with foreign companies amounted to $80.3 billion, president of SOCAR Rovnag Abdullayev reports.

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In January-August, petrol production in Azerbaijan grew by 3%

In January-August 2018, production of petroleum products in Azerbaijan increased by 7.6% to 2 92.6 million manats compared to the same period of the previous year, the Interfax - Azerbaijan was inf

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SOCAR completes the design work on the GPC complex in Azerbaijan.

SOCAR (the State Oil Company of Azerbaijan) has completed the initial engineering and design of a new gas processing and polymer complex (GPC) in Garadagh district of Baku, the company's presid

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Head of SOCAR: Remaining gas reserves at Shah-Deniz estimated at 625 bln cubic meters

The remaining recoverable gas reserves at the Shah-Deniz field are estimated at 625 billion cubic meters, said head of SOCAR Rovnag Abdullayev.

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Kazakhstan may organize transit of oil and petroleum products through Azerbaijan in 2019 and considers export via Baku-Tbilisi Ceyhan pipeline

Kazakhstan is studying possibility of transiting oil and petroleum products through the territory of Azerbaijan since 2019, the Azerbaijani Ministry of Energy informs.

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In January-August, Azerbaijan increased oil production by 0.9%, gas – by 4.6%

In January-August 2018, oil production in Azerbaijan amounted to 25 795 thousand tons of oil, which is by 0.9% more than in the same period of the previous year, the Interfax-Azerbaijan was informe

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In January-July, Azerbaijan insignificantly increased oil export and reduced gas export by 1.3%

In January-July 2018, Azerbaijan exported 18 914.5 thousand tons of oil, which is by 0.1% more than in the same period of 2017, the Government reported.

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In 2017, SOCAR reduced assessment of proven oil reserves by 6.5%, gas – by 42%

As of the beginning of 2018, according to international estimates, proven oil reserves of three fields developed by SOCAR amounted to 66.838 million tons, gas – 29.927 billion cubic meters.

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