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SOCAR to increase oil production this year - FORECAST

26 September 2019 12:40 (UTC +04:00)

SOCAR's oil production is predicted to be around 7 583,8 thousand tones this year and this is by 0,6 % more than compared to last year, a reliable source in the oil and gas sector told APA-Economics.

Note that according to the report of SOCAR, the company produced 7 542,0 thousand tons of oil in 2018.

The resource mentioned that nearly 37 990 thousand tons of oil will be produced in Azerbaijan and this is by 2 % decrease.

Recalling that according to the indicators of State Statistics Committee, in 2018 38 758,0 thousand tons of oil produced in Azerbaijan and this is equal to the indicators of 2017.

Note that this year, it is planned to shut down two water jackets for planned repairs at the Azeri-Chirag-Gunashli oil and gas block located in the Azerbaijani sector of the Caspian Sea. Thus, in April "Mərkəzi Azəri" water jacket was suspended for the planned work. The shutdown of the "Qərbi Çıraq" platformt is scheduled for October. These activities may lead to a slight decline in oil production in the country.