17:15 - 22.01.2018

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January 22, Fineko/abc.az. The State Oil Company of Azerbaijan (SOCAR) obtained stabilization of oil and gas production due to increase of drilling operations.

The Company reports that last year it drilled 138,000 m that is by 30.7% more than in 2016.

"93% of drilling works accounted for development drilling and 7% for exploration drilling. As a whole, works were finished on 81 wells. Last year SOCAR extracted 7.4 million tons of oil and 6.1 bn cu m of gas that is by 1.4% and 3.3% respectively less than in 2016," SOCAR said.

In 2017 it was produced totally 38.7 million tons of oil and 28.6 million cu m of gas in Azerbaijan.