SOCAR reports fall of oil and gas output in January-June

Jul 05, 2000 02:00 AM

SOCAR reported that it had seen crude oil and natural gas output fall in the first six months of this year.
SOCAR said it had extracted a total of 4.46 mm tons of crude oil in the January-June interval, 1% below the figure of 4.5 mm tons posted in the same period of 1999. Most of the January-June total -- 3.72 mm tons -- came from SOCAR's offshore fields, while onshore deposits accounted for the remaining 740,000 tons. The company did not provide comparative data for offshore and onshore production in 1999. It did, however, note that 2.6 bn cm of gas had been extracted during the first six months of 2000, 4.8% down on the year-ago figure of 2.68 bn cm.
SOCAR did not provide a breakdown of offshore and onshore gas production. Onshore deposits account for most of the company's gas output, but SOCAR also receives associated gas extracted from offshore oil wells drilled by AIOC.

Source: NewsBase
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