Baku, Azerbaijan, April 6 By Ilkin Shafiyev – Trend: SOCAR Trading, the trading house of Azerbaijan’s state oil company SOCAR, sold 108 million tons of oil and oil products on the international market in 2017, SOCAR President Rovnag Abdullayev said in an interview to the website of the ruling party of Azerbaijan. He said that the volume of operations has more than doubled last year compared to 2016. Abdullayev further noted that over the past three years the sales volume of oil and oil products of third parties increased fourfold up to 86 million tons. "At the initial stage of activity, SOCAR Trading glorified the Azeri Light oil grade in the world market. Thanks to this, Azerbaijan received additional revenue worth $1.8 billion in 2008-2013. Today SOCAR Trading also sells oil and petroleum products purchased from third parties," Abdullayev said. SOCAR Trading, headquartered in Geneva, was established in late 2007 by the State Oil Company of Azerbaijan. The company sells … [Read more...] about SOCAR Trading more than doubles oil sale
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SOCAR expects to receive first output from new deposits in 2020-2021
Baku, Azerbaijan, April 6 By Maksim Tsurkov – Trend: Azerbaijan's state oil company SOCAR expects to receive the first output from a number of new oil and gas fields in 2020-2021, SOCAR President Rovnag Abdullayev said in an interview to the website of the ruling New Azerbaijan Party. He said that the company is determined to maintain stable production of oil and increase gas production through developing new promising deposits such as Karabakh, Umid-Babek, Absheron and others. "Many important decisions were made regarding the development of new fields. A joint work was launched together with the French company Total on the Absheron field and development of the Umid field," Abdullayev said. He noted that the main designing stage of the development plans for the Karabakh oil and gas field started. "SOCAR is already successfully using its own capabilities to drill wells at a depth of more than 6,000 meters under abnormally high pressure and temperature. I believe that we will get … [Read more...] about SOCAR expects to receive first output from new deposits in 2020-2021
SOCAR names volume of gas export to Georgia
By Trend Azerbaijan's SOCAR exported about 480 million cubic meters of gas to Georgia in January-March 2018, a source in the state oil company told Trend. "As of April 1, SOCAR exported to Georgia about 480 million cubic meters of gas, while average daily export rate hit about 5.3 million cubic meters," the source said. In 2017, SOCAR exported 1.38 billion cubic meters of gas to Georgia. The company supplies its own gas to Georgia via the Hajigabul-Gazakh-Gardabani pipeline. The pumping capacity of the gas pipeline after its modernization exceeds 3.5 billion cubic meters per year. SOCAR operates gas distribution networks in various regions of Georgia via SOCAR Georgia Gas. According to Georgia’s gas balance for 2018, in general, the country’s natural gas demand will stand at more than 2.689 billion cubic meters. Meanwhile, Georgia plans to obtain 2.679 billion cubic meters (99.65 percent) of gas from Azerbaijan, including 1.866 billion cubic meters from the state … [Read more...] about SOCAR names volume of gas export to Georgia
PROKON is on final straight at Construction of SOCAR Ammonia and Urea Plant [PHOTO]
![PROKON is on final straight at Construction of SOCAR Ammonia and Urea Plant [PHOTO]](https://res.cloudinary.com/demo/image/fetch/w_340,h_200,c_crop,g_face/https://cdn.trend.az/media/pictures/2018/04/04/ammonia_and_urea_plant_040418_02.jpg)
By Trend PROKON, a subsidiary of Nobel Oil Services in Construction and Project Management, fulfilled Construction Works at SOCAR Ammonia and Urea Plant, in conformity with the remaining Commissioning activity of the plant that is ongoing. PROKON undertook the prestigious SOCAR Ammonia & Urea Complex Project as the Main Construction Contractor, working with Samsung Engineering Co., Ltd., EPC Contractor of the Project. The plant is located about 35 km north side of Baku city, aimed to utilize abundant natural gas as feedstock and produce 1,200 MTPD of ammonia and 2,000 MTPD of urea within a single complex. By now, Ammonia Plant, Urea Plant and Urea handling facilities have been completed, pre-commissioning & preparation works for start-up are in progress. PROKON accomplished the following major activities in the Project with volumes of: Excavation (120,380 m3), Backfilling (55,800 m3), Concrete (51,500 m3), Building (7,587 m2), Piping Fabrication & Erection works … [Read more...] about PROKON is on final straight at Construction of SOCAR Ammonia and Urea Plant [PHOTO]
SOCAR intends to invest in Bulgaria’s gas sector
By Trend Azerbaijan’s state oil company SOCAR has confirmed its intention to invest in the development of Bulgaria’s gas distribution network, said a message from Bulgaria’s Energy Ministry. Reportedly, SOCAR representatives are on a working visit to Sofia to hold discussions with Bulgarian authorities on the details of possible participation in the development of Bulgaria’s gas sector. "SOCAR’s interest in gasification of Bulgarian cities was expressed during a meeting of Bulgaria’s Prime Minister Boyko Borissov with Azerbaijan’s President Ilham Aliyev in January. SOCAR has already successfully invested in this sector in Georgia and can use this experience in Bulgaria as well," said the message. SOCAR representatives set before the Bulgarian experts from the Energy Ministry a number of issues related to legislation on gas distribution, subsidies for households, the choice of natural gas as a source of energy, competitive advantages … [Read more...] about SOCAR intends to invest in Bulgaria’s gas sector