SOCAR's oil & gas production totaled 7.9 million tons and 7.9 billion m3, respectively, during the reported period.
The company stated:
- The country's total oil and gas production has continued to rise
- This is especially noticeable in the gas industry
Azerbaijan also produced 34.6 million tons of crude oil in 2021.
The company noted:
- The slight increase in oil production is primarily due to the gradual elimination of voluntary oil output cuts by the OPEC+ agreement
In 2021, natural gas exports increased by 40 % to 18.1 billion m3.
Last year, the country consumed 13 billion m3 of natural gas, an 8.4 % increase over the previous year.
The company said:
- Increasing the country's gasification level from 96.2 % to 96.3 % by 2021, as well as nearly tripling urea fertilizer production, are the main factors driving consumption growth
Furthermore, SOCAR's Heydar Aliyev Oil Refinery processed 6.7 million tons of oil in 2021, while SOCAR's Natural Gas Processing Plant produced 3.8 billion m3.
The volume of oil refining increased by more than 13.3 %, despite a decrease in gas processing.
According to the company:
- In the context of the 2021 results, it should be noted that the export of oil refining and petrochemical products (including polymers) exceeded 3 million tons
- This is approximately 25.5 % higher than the results of 2020