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SOCAR’s proven oil reserves increase

25 September 2019 10:24 (UTC +04:00)

According to the finals of the previous year, SOCAR’s proven oil reserves have been 71 055 thousand tonnes and it is 1.3% more in comparison with finals of 2017, APA-Economics reports citing SOCAR’s information, given in accordance with its report on sustainable development.

According to the finals of 2018, company’s proven gas reserves was 45 692 mln. c/m.

The report says the company produced 7 542,3 thousand tonnes of oil (an increase of 1.6%) and 6 525,6 mln. c/m gas (an increase of 7.2%) in 2018.

6 255,9 thousand tonnes of oil, produced last year within borders of Azerbaijan, as well as Azerbaijan sector of the Caspian Sea by SOCAR fall to share of “Aznef” IB, while 1 286,4 thousand tonnes to the fields, in which SOCAR has share.

In 2018, in total 65 new exploration wells in shore and off-shore areas and 94 wells from fund of inactive wells were repaired and put into operation.

In reporting year, the company sent 6 090,5 tonnes (an increase of 4.7%) and 2 952,2 mln. c/m gas (an increase of 1.2%) for processing.