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Source: Socar Energy

Headline: Drilling, production, refining and export figures in the third quarter of 2020

Due to production cuts under OPEC+ agreement, oil production decreased, as compared to the same period of the previous year. Natural gas production continued to grow. Nationwide crude oil and natural gas output totaled about 8,2 million tons3 and 8,2 billion cubic meters4 respectively.
In the third quarter, SOCAR carried out 11 thousand meters5 of drilling work, while total volume of the country’s performance in this area amounted to 42 thousand meters6 .
SOCAR’s quarterly refining output was about 1,3 million tons7 of oil and above 827 million cubic meters8 of natural gas.
In the third quarter of 2020 SOCAR exported about 3,7 million tons9 of crude oil and more than 148 million cubic meters10 of natural gas. During this period about 2,3 billion cubic meters11 of natural gas were consumed on domestic market and more than 3 billion cubic meters12 were exported, a 13 percent increase from the same period of the previous year.
SOCAR exported about 571 thousand tons13 of refined oil products and chemicals in the third quarter of 2020.
Note: The figures in the report were rounded for readability. Please find exact figures in the endnote.

1 1,803,310 tons
21,842,764,000 cubic meters
38,184,440 tons
48,183,295,000 cubic meters
511,105 meters
641,525 meters
71,256,412 tons
8827,481,000 cubic meters
9 3,637,330 tons
10148,153,000 cubic meters
112,296,008,000 cubic meters
12 3,012,618,000 cubic meters
13 571,471 tons

MIL OSI Economics