SOCAR Announces Drilling, Production, Refining for the First Quarter of 2021

In the first quarter of 2021, SOCAR produced more than 1.9 million tons1 of crude oil and above 1.9 billion cubic meters2 of natural gas.

Nationwide oil and gas output totaled 8.8 million tons3 and more than 10.4 billion cubic meters4, respectively. The growth in gas production continued in the first quarter of the year. In relevant period, the company conducted nearly 7 thousand meters5 of drilling.

During the first quarter, SOCAR’s crude export performance was 4.5 million tons6 of oil and more than 512 million cubic meters7 of gas. SOCAR exports both the crude, it produced by own means, and the shares in oil of SOCAR and Azerbaijan, produced by the international consortia. In total, nearly 7 million tons8 of crude oil were exported from the country and loaded on tankers.

In the first quarter of 2021, more than 5 billion cubic meters9 of gas were exported, a 45% increase from the same period of 2020. The increase in gas export is related to the launch of TAP pipeline.

The oil and gas refineries in Azerbaijan processed more than 1.4 million tons10 of crude and more than 1.1 billion cubic meters11 of natural gas during the first quarter. In this period, about 669 thousand tons12 of oil, petrochemical and gas-chemical products produced by SOCAR Group in Azerbaijan were exported. A 25% growth from the same period of last year was achieved mainly due to the increased export of diesel, bitumen, petroleum coke, lubricants and petrochemicals.