Baku News

BAKU, October 12 (RIA Novosti) - The State Oil Company of Azerbaijan (SOCAR) said Thursday its crude output grew 0.2%, year-on-year, in the first nine months of 2006, to 6.736 million metric tons (49.51 million bbl). The company's press service said a total of 751,000 tons (5.52 million bbl) of oil was produced in September. In 2005, SOCAR produced 8.97 million tons (65.93 million bbl) of oil, and 5.82 billion cubic meters of gas. SOCAR is part of the Azerbaijan International Operating Company, the BP-led consortium that operates the country's Azeri-Chirag-Gunashli (ACG) offshore oilfield, with estimated recoverable reserves of 5.4 billion barrels. According to Azerbaijan's industry and energy ministry, crude output in Azerbaijan in 2005 was 22.2 million metric tons (163 million bbl), representing a 43% year-on-year increase.