SOCAR announces forecasts on products for 2015

Baku: State Oil Company of Azerbaijan has announced forecasts on products for 2015.

According to APA-Economics, SOCAR Vice-President on Oil & Gas Production and Transportation Rahman Gurbanov said at the Caspian Oil & Gas 2015 conference that oil production in 2015 is forecasted to be 40.7 mln and gas – 30.2 bcm.

According to Vice-President, SOCAR plans to extract 8.3 mln tonnes of oil and 6.5 bcm of gas from its fields: “Of this, 6.5 mln tonnes will be refined, 1.7 mln tonnes – sold to foreign countries”.

Gurbanov noted that Azeri-Chirag-Guneshli fields block will produce 30.3 mln tonnes of oil and 13.8 bcm of gas, Shahdeniz – 2.1 mln tonnes of oil and 9.8 bcm of gas.

He added that SOCAR will export 1.2 bcm of gas to Georgia.

Azerenergy is expected to receive 4.85 bcm of gas.

2.6 bcm of Shahdeniz gas will be given to Azerbaijan, 6.3 bcm to Turkey, 0.74 bcm to Georgia: “3.1 bcm of ACG gas will be given to Azerbaijan, 9.2 bcm will be saved for reservoir pressure maintenance”.