SOCAR

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 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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BP buys 61% in contract for development of land field in Azerbaijan

BP has acquired a 61% equity participation in agreement on production sharing on onshore oilfield South-Western Gobustan in Azerbaijan, it follows from message of BP-Azerbaijan.

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SOCAR and Gazprom have no contradictions in implementation of gas projects

Southern gas corridor hasn’t sought to compete with gas projects involving Gazprom in the EU.

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SOCAR AQS completes drilling of new well at West Absheron Field

SOCAR-AQS LLC completed the drilling of a new well at the West Absheron field, the company informed.

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In 2018, SOCAR Georgia Gas to increase gas supplies to Georgia by 29%

SOCAR Georgia Gas (SGG, subsidiary of SOCAR Energy Georgia) has planned to deliver 1.8 billion cubic meters of gas to Georgia in 2018, which is by 28.6% more than in 2017, this follows

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Total plans to obtain the first gas from the Absheron field in Q3 2020

The first gas from the Absheron field is planned to be received in the third quarter of 2020.

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Cost of oil production at SOCAR's fields up by 14% in 2017

In 2017 the cost of oil production at the fields of SOCAR (State Oil Company of Azerbaijan Republic) increased by 13.9% compared to the indicator of 2016 - up to 111.42 manats per ton, the company&

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