SOCAR lead story

Upper Head Image

Drilling, production, refining and export figures in the third quarter of 2020

SOCAR produced above 1,8 million tons1 of oil and more than 1,8 billion cubic meters2 of natural gas during the third quarter of 2020.
Due to production cuts under OPEC+ agreement, oil production decreased, as compared to the same period of the previous year. Natural gas production continued to grow. Nationwide crude oil and natural gas output totaled about 8,2 million tons3 and 8,2 billion cubic meters4 respectively.

In the third quarter, SOCAR carried out 11 thousand meters5 of drilling work, while total volume of the country’s performance in this area amounted to 42 thousand meters6 .

read more full article
NewspaperNews Archives

President Ilham Aliyev attended the load-out of the Absheron jacket

Start of offshore construction on Absheron field

On September 19, President of the Republic of Azerbaijan Ilham Aliyev attended the groundbreaking of the Absheron jacket and other subsea facilities, constructed by SOCAR's BOS Shelf at the Baku Deepwater Jacket Plant.
The contract for the construction of the platform and related facilities to be operated in the Absheron field, developed by SOCAR and TOTAL's joint operator JOCAP, was given in 2018 to BOS Shelf, which has a longstanding experience in the implementation of Azeri-Chirag-Gunashli, Shah Deniz-2 and other projects.

First, the head of state watched a film about the Absheron field and the jackets for the future platform. He was informed that during the development of the Absheron project, BOS Shelf applied the turn-key project method for the first time in Azerbaijan, carrying out all Engineering, Procurement, Construction, Installation (EPCI) works. The project’s visionary engineering reports were prepared by SOCAR's Oil and Gas Research Project Institute. The documents were delivered to Mareal and SOCAR KBR for the next phase of elaboration.

full article read more

Oil and gas companies sign Memorandum of Understanding on Caspian Environmental Protection Initiative (CEPI)

On September 14, 2020, a Memorandum of Understanding on CEPI-Caspian Environmental Protection Initiative was signed at Ecopark, SOCAR's Environmental Research Center.
CEPI, initiated by SOCAR and established by SOCAR, KazMunayGas, BP, Equinor Absheron AS and Total E&P Absheron B.V., considers proactive steps toward combating climate change, emissions of greenhouse gases and hazardous substances to the atmosphere.

Rafiga Huseynzadeh, Chairperson of the Executive Committee of CEPI, Vice-President of SOCAR for Ecology, addressed the event with a welcoming speech and informed about the plans and future activities within the framework of the Initiative. The Memorandum of Understanding was signed by Rovnag Abdullayev, President of SOCAR, Alik Aydarbayev, Chairman of the Board, KazMunayGas, Gary Jones, BP Regional President, Azerbaijan-Georgia-Turkey, Fawad Quraishi, Country Manager for Azerbaijan, Equinor Absheron AS and Regis Agut, Managing Director, Total E&P Absheron B.V.

full article read more

President Ilham Aliyev attended the launch of the Garabagh jacket

On August 10, President of the Republic of Azerbaijan Ilham Aliyev attended the launch of the Garabagh jacket, constructed by SOCAR's BOS Shelf at the Baku Deepwater Jacket Platforms Plant. The jacket was configured as a grid-type metal structure to support the upper part of the stationary platform and the deck to be installed at the Garabagh oil field.
The Garabagh jacket is the largest underwater structure in the history of SOCAR, both in terms of size and weight. 95% of people employed on the construction site were local workforce. The construction process was completed in full compliance with security requirements, without casualties. Two years or 3,200,000 man-hours of work were spent for the development of the unit. The 16,000-ton structure will be transported by the STB-1 barge to the sea. The height of the support block is 187 meters. It will be installed at a depth of 182 meters.

It has 10 main and 10 auxiliary legs and walkways along the perimeter. .

After reviewing the newly-constructed support block, President Ilham Aliyev expressed confidence that it would play a major role in oil and gas production in the deep layers of the Garabagh field. Then President Aliyev activated the button for loading the support block on the STB-1 transport barge.

full article read more

The State Oil Company of Azerbaijan… at a glance

Discover SOCAR

The State Oil Company of the Azerbaijan Republic (SOCAR) is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate.

read more

International ratings

When investors and credit organizations wish to cooperate with any company, first of all the international rating of the company in discussion is reviewed.

read more