Last year, the State Oil Company of Azerbaijan (SOCAR) produced 7.4 million tons of oil and 7.3 BCM of gas in the fields operated independently or as a major shareholder. “QİA.AZ” informs referring to SOCAR.
It is noted that the upward trend in total gas production continued in Azerbaijan. Compared to 2019, gas production rose by about 4% to 37.1 BCM.
Oil production, in turn, decreased. During the year, Azerbaijan produced 34.5 million tons of crude oil. The decline in oil production was mainly due to voluntary restrictions imposed by the OPEC + agreement.