The OPEC+ production cuts supported the recovery of oil and gas prices during the year.
The company produced 7.4 million tons of oil and 7.3 billion m3 of natural gas on the fields operated.
Compared to 2019, total gas production increased by about 4% to 37.1 billion m3.
During the year, Azerbaijan produced 34.5 million tons of crude oil.
During the year, about 12 billion m3 of gas was consumed in the country.
Azerbaijan's gas exports increased by 16% to 13.4 billion m3.
SOCAR’s Heydar Aliyev Oil Refinery processed 5.9 million tons of oil while SOCAR’s Gas Processing Plant’s output was 3.8 billion m3 in 2020.
The volume of gas processing grew by more than 17%, amidst relative decrease in oil refining due to the lower demand for oil products during pandemic.
SOCAR Polymer exported 132,5 thousand tons of polymer products, including a variety of high-density polyethylene and polypropylene brands.This is a 58% increase, compared to 2019.
SOCAR Polymer became the largest polypropylene exporter to Russia in 2020.