Azerbaijan’s Socar Reduces Oil Output 2.1% in First 11 Months
The Baku-based producer known as Socar pumped out 7.56 million metric tons of oil in January through November, down 2.1 percent from a year earlier, according to data published late yesterday on the company’s website.
Output at the BP-led Azeri-Chirag-Guneshli field, where Socar is a partner and which provided 78 percent of Azerbaijan’s oil output last year, slumped 12 percent in the first half. BP added engineers and pledged to keep output stable after Azeri President Ilham Aliyev criticized the U.K. producer in October.
Socar raised natural gas production 5.9 percent to 6.87 billion cubic meters in the first 11 months, the data showed.
Azerbaijan, the third-largest oil producer in the former Soviet Union, cut output about 7.4 percent during the period to 39.3 million tons, according to Socar’s data. Gas output grew 12 percent to 26.58 billion cubic meters during the period.
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