News Archive

19 April 2022

2022 Q1 drilling, production, refining, and export results


In the first quarter of 2022, SOCAR improved its drilling performance by conducting over 18 000 metres1 of drilling work, 2.7 times more than a year before. The company produced more than 1.9 million tons2 of oil and 1.9 billion cubic metres3 of gas during the reporting period. Oil and gas production increased gradually compared to the previous year. National oil and gas output totaled 8.3 million tons4 and 11.8 billion cubic metres5, respectively. The country’s gas production increased by 13.5 percent in this period.

SOCAR exported nearly 4.1 million tons6 of crude to the world market and 770 million cubic metres7 of natural gas to Georgia during the reporting period. SOCAR’s gas exports to Georgia increased by 50.6 percent compared to the same period last year. SOCAR exports both the crude oil produced by own means, and the shares of SOCAR and Azerbaijan in the international consortia’s oil production. In total, about 6.7 million tons8 of oil and 5.9 billion cubic metres9 of gas were exported from the country. A 14.7-percent growth was recorded in the country’s gas exports compared to the same period last year.

About 1.6 million tons10 of oil and 948 million cubic metres11 of natural gas were processed by the company’s refining complex in Azerbaijan. Oil refining increased by 9.7 percent compared to the same period last year. During the first quarter, about 561 000 tons12 of oil, petro- and gas-chemicals produced by SOCAR’s enterprises in Azerbaijan were exported abroad. Natural gas consumption in the country increased by 9.3 percent and amounted to about 4.8 billion cubic metres13. A sharp increase in output of carbamide and methanol plants, as well as domestic gas supplies’ growth to 96.3 percent, led to the increase in gas consumption in the country.

Note: The figures in the text are rounded for readability. The exact figures are shown in the following references.

1 - 18.340 metres

2 - 1.930.062 tons

3 - 1.917.971.000 cubic metres

4 - 8.338.643 tons

5 - 11.803.557.000 cubic metres

6 - 4.085.193 tons

7 - 770.274 cubic metres

8 - 6.656.324 tons

9 - 5.883.866.000 cubic metres

10 - 1.582.710 tons

11 - 947.524.612 cubic metres

12 - 560.504 tons

13 - 4.759.048.000 cubic metres