ECONOMY
INCREASE AZERBAIJANI OIL PRODUCTION
Azerbaijan produced 2.976 billion cubic meters (bcm) of gas, up 0.8%. This included 1.133 bcm of natural gas, up 4.2%, and 1.843 bcm of associated gas, 1.3% more than in the first seven months of last year.
Azerbaijan produced 1.352 million tonnes of fuel oil, which was 15.8% less than in the same period of last year. It produced 898,000 tonnes of diesel (down 3.6%), 375,600 tonnes of kerosene (down 0.1%) and 1,500 tonnes of bitumen coke (down 95.6%), but 401,800 tonnes of automobile gasoline (up 26.8%), 159,500 tonnes of industrial gasoline (up 12.7%) and 36,900 tonnes of petroleum bitumen (an increase of 57.7% year-on-year). Azerbaijan produced 15.335 million tonnes of oil and condensate in 2002, 2.9% more than in 2001. Gas production fell 7.1% to 5.143 billion cu m.
The energy ministry has set SOCAR, the State Oil Company of the Azerbaijani Republic, targets to produce tentatively 8.9 million tonnes of oil this year as a whole, compared with 8.94 million tonnes in 2002, and 4.15 bcm of gas, compared with 4.19 bcm.
The Azerbaijan International Operating Company (AIOC) has a target to produce 6.45 million tonnes of oil (6.38 million tonnes in 2002) and 890 million cubic meters of gas (958.8 mcm).
