OREANDA-NEWS. July 7, 2008. State Oil Company of Azerbaijan (SOCAR) increased gas production and its delivery for 2008 compared to the 2007 same term and implemented the target by 99.7%.

SOCAR reports that for Jan-June 2008 the country extracted 3,844.23 million cu m of gas (forecast: 3,857 million cu.m.), including 643.81 million cu m in June against the target of 649.6 million cu m (-5.79% versus the plan). Compared to the 2007 same period, the Jan-June 2008 production figure rose by 39.7% (+1,092.15 million cu m). This year’s gas extraction target totals 8 bn cu m.

“June’s gas production by PGEAs (Petroleum and Gas Extracting Administrations) reached 635.96 million cu m against the forecast of 637.40 million cu m (-0.2%), and by joint ventures and operating companies (JVs and OCs) 7.85 million cu m (-35.7%),” a SOCAR’s source said.

For Jan-June the PGEAs increased gas extraction by 42.3% (+1,126.76 million cu m) while the JVs and OCs reduced it by 42.3% (+1,126.76 million cu m) compared to Jan-June term 2007. For Jan-June period the PGEAs produced 3,787.86 million cu m (+0.1%) and the JVs and OCs 56.37 million cu m (-23.8%). This year’s gas production target for the PGEAs makes up 7.85 bn cu m and for the JVs and OCs 150 million cu m.

SOCAR gas receipt from Azeri-Chirag-Gunashli (ACG) field block in June reached 155.27 million cu m (+35.4% versus the forecast) and from Shah Deniz field 129.41 million cu m (-33.6%). For Jan-June term gas production from Shah Deniz made 1,046.05 million cu m (-8%) and from ACG 842.99 million cu m (+21.1%). At the same time gas receipt from ACG reduced by 31.6% (-575.97 million cu m) and from Shah Deniz grew 1.9 fold (+507.3 million cu m) compared to Jan-June 2007.

For Jan-May period of 2008 gas delivery reached 5,247.67 million cu m that is by 63.17 million cu m or 1.2% more than the forecast, including 844.46 million cu m in June (31.24 million cu m or 3.6% less than the forecast). Gas delivery grew by 22.2% or 953.06 million cu m compared to 2007 same term. At the same time gas delivery target for 2008 is 11.287 bn cu m.

“In June 2008 it was delivered 155.27 million cu m (+36.6%) from ACG, 129.41 million cu m from Shah Deniz (-33.6%). Gas delivery for Jan-June from ACG reached 842.99 million cu m (+22.2% versus the target) and from Shah Deniz 1,046.05 million cu m. (-8%). The Jan-June gas delivery from ACG reduced by 38% or 517.7 million cu m and from Shah Deniz 1.9 fold or by 507.3 million cu m compared to the 2007 same term. Gas delivery target for 2008 from ACG totals 1.387 million cu m and from Shah Deniz 2.9 million cu m,” it was reported.