Bloomberg News

Socar First-Half Oil, Natural-Gas Production Fell in Azerbaijan

August 06, 2012

State Oil Co. of Azerbaijan pumped less crude oil and natural gas in the first half.

Oil output fell 2.6 percent to 4.1 million metric tons from the same period a year earlier and gas declined 3.2 percent to 3.4 billion cubic meters, the Baku-based company known as Socar said today on its website without giving a reason.

Azerbaijan’s total oil production in the first six months of the year fell 7.1 percent to 22.2 million tons, the State Statistics Committee said last month. Gas production expanded 8.6 percent to 8.8 billion cubic meters.

Most was pumped from the BP Plc-led Azeri-Chirag-Guneshli and Shah Deniz fields in Azerbaijan’s section of the Caspian Sea. The nation, the third-largest oil producer in the former Soviet Union after Russia and Kazakhstan, pumped 45.6 million tons of oil and 25.8 billion cubic meters of gas last year.

To contact the reporter on this story: Zulfugar Agayev in Baku at zagayev@bloomberg.net

To contact the editor responsible for this story: Hellmuth Tromm at htromm@bloomberg.net


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