Which oil companies are in Azerbaijan?

Which oil companies are in Azerbaijan?

Oil & Gas Companies in Azerbaijan

• State Oil Company of Azerbaijan Republic (SOCAR) — Azerbaijan.
• Azerbaijan International Operating Company (AIOC) — Azerbaijan.
• Azerigaz Company — Azerbaijan.
• BP Azerbaijan — Azerbaijan.
• Shirvan Oil Operating Co.

Who owns the oil in Azerbaijan?

The company produces oil and natural gas from onshore and offshore fields in the Azerbaijani segment of the Caspian Sea. It operates the country’s only oil refinery, one gas processing plant and runs several oil and gas export pipelines throughout the country….SOCAR.

Is Azerbaijan oil rich?

Azerbaijan is a major crude oil producer (37.5 Mt including natural gas liquids in 2019) and a significant producer of natural gas (24.5 bcm in 2019). Azerbaijan was the 24th-largest crude oil producer in the world in 2018 and the second among EU4Energy focus countries after Kazakhstan.

What is the largest oil center of Azerbaijan?

Azeri-Chirag-Deepwater Gunashli
Among the most significant shelf giants is Azeri-Chirag-Deepwater Gunashli (ACG) field, which is the largest oil field in the Azerbaijan sector of the Caspian basin with more than 5 billion bbl of recoverable reserves.

Who buys Azerbaijan oil?

Trade. Azerbaijan’s crude oil exports were about 568,000 b/d in 2020 (Figure 4). Most of the exports were destined for European countries, with Italy receiving 34% of Azerbaijan’s crude oil exports in 2020.

Is Baku rich in oil?

Baku’s oil fields, which became known for their numerous and spectacular gushers, became the world’s largest petroleum producer. However, unfettered exploitation by European companies and later by the Soviet Union turned the region into an ecological disaster.

Who is Socar?

State Oil Company of the Azerbaijan Republic (SOCAR) is Azerbaijan’s national oil company and is fully owned by the state.

Is Azerbaijan poor or rich?

The nation is rich in natural resources, and its economy is heavily based on oil and other energy exports. The country is considered an upper-middle income nation possessing a high level of economic development and literacy.

Which country has the most oil?

Venezuela
Oil Reserves by Country

How many employees does Socar have?

Employment Opportunity For 5.300 People SOCAR Turkey, a subsidiary of SOCAR which employs more than 60 thousand persons all around the world, provides support to both the economy and human resources of Turkey with its investments.