SOCAR reveals production volumes at Azerbaijan’s oil & gas fields

Wed 16 Oct 2019 08:53 GMT | 12:53 Local Time

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To date, 1.09 billion tons of oil have been extracted from Azerbaijani offshore fields, Vice President of Azerbaijan’s state oil company SOCAR for Field Development Yashar Latifov said during the Annual Caspian Technical Conference of the Society of Petroleum Engineers (SPE) in Baku, Trend reports from the event.

“So far, 1.09 billion tons of oil and 713 billion cubic meters of gas have been extracted from Azerbaijani offshore fields, while onshore production totaled 0.979 billion tons of oil and 139 billion cubic meters of gas,” Latifov said.

The vice president noted that so far, 28 oil and gas fields have been discovered in the Azerbaijani sector of the Caspian sea.

“Of these, 19 are under development, and 53 fields have been discovered on land,” Latifov added.

The Caspian Technical Conference will continue until October 18. The main focus of the conference is the oil and gas industry in the Caspian region and at the global level.

The theme of the conference is digital transformation, which will be reflected in thematic panel and technical sessions that bring together industry experts, representatives of regulatory bodies and innovative companies as well as students.




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