SOCAR posts 1.3 increase in gas extraction, 1.4% decline in oil output

Nearly 2 million tons of oil (-1.4%) and more than 2 billion cubic meters of gas (+1.3%) were produced in the fields operated by the State Oil Company of Azerbaijan (SOCAR) in the third quarter of this year, Report informs, citing SOCAR's data on drilling, production, processing and export indicators for Q3 of 2022.

A comprehensive plan of measures to maintain a relatively stable production level in the company's oil fields has been continuously implemented.

In the third quarter of this year, more than 8 million tons of oil (-7.7%) and 11 billion cubic meters of gas (-3.17%) were produced across the country.