Two-billionth Ton of Azerbaijani Oil to Be Extracted Tomorrow
2017 November 06 ( Sunday ) 09:37:23
Baku/06.11.17/ Turan: Tomorrow it is expected to produce the two-billionth ton of oil from the depths of Azerbaijan.
"On the night of November 7 to 8 we expect the extraction of the two-billionth ton of oil," SOCAR representative told Turan News Agency.
Statistics of industrial oil production in Azerbaijan has been conducted since 1871, when only 19,000 tons of oil was extracted. In 1900, the Absheron deposits provided half of the world production - 9.84 million tons. Before the nationalization of the oil industry in Azerbaijan by the Communists in May 1920, the peak of production was recorded in 1901 - 10.98 million tons. The Soviets were able to overcome this figure only in 1931 - 13.5 million tons. During the years of Soviet power in Azerbaijan (1920-1991) , the highest oil production was in 1941 - 23.54 million tons. During the entire Soviet period more than 1 billion tons of oil and condensate was extracted from the Azerbaijani fields.
Between 1992 and November 1, 2017, the Republic of Azerbaijan produced 700 million tons of oil and condensate, of which about 452 million tons was accounted for by BP-Azerbaijan (430 million tons of oil was extracted from the Azeri-Chirag-Guneshli block, and 21.7 million tons of condensate was extracted from Shah Deniz).
An interesting fact is that whereas it took exactly 100 years to produce the first billion tons of Azerbaijani oil, then only 46 years were required to produce the next billion. Of course, such an intensity of development of deposits is associated with the development of technology. -12B